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Sage buys US payroll company for £272m

By John Oates

Published: 12 January 2000 18:04 GMT

UK accountancy software company, Sage, has bought Best Software for £272m in cash.

Best Software sells payroll management and human resources packages, and will add 50,000 customers to Sage's stable. The deal will be financed by a share issue of 43.7 million shares.

Paul Stobart, business development director at Sage, told Reuters the company is still looking for further acquisitions in Belgium, Italy, the Netherlands and Spain

Sage declined to comment on the details of the deal.

For more information see http://www.bestsoftware.com .

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