Sage splashes out for ACCPAC
FTSE100 accounting software company Sage has continued its acquisition strategy with the purchase of Computer Associates' subsidiary ACCPAC.
The deal has been valued at £62.5m, which Sage will pay for in cash subject to regulatory approval, and should be completed by February.
Sage chief executive Paul Walker said the move would greatly strengthen the company’s position in the Canadian and US markets, while complementing its existing operations in Australia and South Africa. ‘ACCPAC’s CRM offering extends the options available to those of our customers seeking to purchase front office solutions,’ Walker commented.
ACCPAC offers business management software solutions to SME’s, focusing mainly on accounting and CRM products. Its 500,000 customers are based primarily in the US, Canada, South Africa, Australia and Singapore.
Sage expects its recent acquisitions of Timberline and Grupo SP to have a ‘positive effect’ on its 2004 figures, and will no doubt hope for a similar result from its latest purchase.