Sage shares hit by Microsoft launch
Sage shares have fallen following the news of Microsoft's planned entry into the US small business accounting software market.
The FTSE100 accounting software group’s share price stands at 184.25p, from 187p on Friday.
Sage’s acquisition strategy has given it a strong presence in the US, most notably with the purchases of Best Software, Timberline and ACCPAC.
A spokeswoman for Microsoft said there were ‘no plans for a UK release at the moment’.