Business software maker, Best Software, will buy accounting-focussed applications vendor Accpac International from its current parent, Computer Associates International, for $US110 million in cash.
Pending regulatory approvals the acquisition will close in February.
Best Software, a subsidiary of UK-based company The Sage Group, sells software aimed at small and mid-size companies for handling business functions such as sales, human resources, payroll and contact management. Its products include ACT, Peachtree and SalesLogix.
Accpac’s portfolio includes applications for customer relationship management (CRM), accounting, human resources and inventory management.
Its user base includes 540,000 customers that would add to Best Software’s existing base of 1.8 million US customers, the companies said.
Accpac would be maintained as a brand, and most of the company’s 600 employees were expected to join Best Software, Best Software chief executive officer (CEO), Ron Verni, said.
The two companies had complementary product and geographic strengths, as well as channel networks with little overlap, he said.
“We’re very excited about gaining a CRM and hosted application service provider (ASP) solution,” Verni said. “We had been looking for something of that sort. It’s something customers are looking for.”
Accpac CEO David Hood’s future position has not yet been determined, though Hood said he would like to remain with Best Software.
Computer Associates said the sale of Accpac was part of its plan to exit the business applications market and concentrate on management software, such as its flagship Unicenter suite.