![]() We heard that PeachTree was filing for an IPO and we immediately offered a broadly similar price. It seems ADP was as eager to divest itself of PeachTree as Sage was to buy it. ![]() The recently-announced acquisition of US accounting software veteran, PeachTree Software, should only serve to push margins still higher since the $145m cash transaction should be non-dilutive this year and accretive thereafter. ![]() ![]() Sage reported net profits up 29% at 32.4 million pounds ($51.8 million) on revenues that rose 26% to 191.5m pounds ($306.4 million). Sage is now the fourth most profitable European software company with margins that are largely unheard of in the PC software market. Accounting software company The Sage Group is known for making opportunistic acquisitions to expand beyond the UK into global territories.
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