Sage buys small US developer
Sage, the accountancy software supplier, has bought a small US firm for $14.3m in cash.
Florida-based CPA Software supplies accounting practice management systems to 10,000 firms in the US. Turnover for the year to December 31, 2001 was $7.4m.
Sage grew big in the UK by getting accountancy firms to act as its resellers to small and medium business. It aims to repeat the trick in the US, where it claims a 20,000-strong network of certified public accountants (CPAs) which 'already' recommend Sage software, such as ACT!, Peachtree and Saleslogix.
Sage will market CPA Software products to this network. It also supplies software for accountants in the UK and France. ®