The deal by Freecom.Net comes hot on the heels of its recent acquisition of rival accounting software specialist Pegasus, in a £55.5m deal following a bidding war with Australian software group Solution 6 in February.
Systems Union, the specialist in Sun Systems’ business for the mid-market, approved the deal which is made up of 7.8 million shares and £7m in cash.
Michael Williams, Freecom.Net chief executive, ruled out any further accountancy software acquisitions in the future and said the company will now focus on making cash from its existing customer base.
It is expected the company will concentrate on building a hosting business around Sun Systems’ applications and take advantage of international expansion.
Cowgill Holloway and Warings Business Advisors have merged, with a range of growth plans in the North West put in place
New growth opportunities in Aberdeen, North East Scotland, are being invested in by Grant Thornton
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season