Sage extends reach to South Africa
FTSE 100 accounting software developer Sage is back on the acquisition trail and is set to buy a South African software group.
On Friday, Sage announced an offer to buy Softline, a South African and Australian software group for £66m.
Softline is a developer and supplier of accounting and taxation software for small and medium-sized businesses.
The Sage offer values the company at R2 (17p) a share.
Last month, the Newcastle-based accountancy software group ventured into the US market, buying Timberline in a deal worth £63.9m.