Business
UK's Sage to buy US rival for £159m
UK accounting software powerhouse Sage today announced plans to buy US rival State of the Art (SOTA) for £159 million ($263 million).
"The acquisition of SOTA represents an exciting opportunity for the Sage Group," said Michael Jackson, chairman of the Newcastle-based company.
"SOTA has excellent products, a powerful value added reseller network and a substantial customer base. Sage's expertise in brand management, product marketing and channel management together with SOTA's leading position in the US PC accounting software market provides us with a strong platform from which to grow our US business substantially."