Geordie small biz provider Sage has been beaten in the battle over Australian accounts provider MYOB even though it was offering more for the firm. Sage was offering A$1.3bn and was supposedly the preferred bidder. But fears over its not being able to gain shareholder approval tipped the balance to favour Bain Capital. The buy …
"Sage's market cap has fallen to *about* £3.1bn "
Well you may not like them (and if you've used the latest version of ACT unpatched you certainly won't) but they are *substantial* UK software house that does not depend on HMG.
Still MYOB customers have probably had a lucky escape.
For the same price, be sold to a competitor or to asset-stripping debt-leveraging capital market parasites (allegedly in my opinion) - what a choice.