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BUSINESS
July 19, 1998 | P.J. Huffstutter
State of the Art Inc., the Irvine accounting software maker that merged with British firm Sage Group PLC this spring, said Friday that it has changed its name to Sage Software Inc. The U.K. company, the leading provider of accounting software for small- to mid-sized businesses in Europe, owns 98.6% of the Irvine company's outstanding shares.
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BUSINESS
February 15, 2000 | P.J. Huffstutter
The Sage Group PLC, Britain's biggest maker of accounting software, on Monday completed its acquisition of Best Software Inc. for $445 million. The U.K. group, which runs its U.S. operations out of Irvine, paid $35 a share in cash for Best, a Virginia maker of accounting and financial software applications for the Web. No layoffs are expected at Best, which operates as a wholly owned subsidiary of the British firm. Sage had $499 million in sales last year; Best reported annual revenue of $91.
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BUSINESS
February 15, 2000 | P.J. Huffstutter
The Sage Group PLC, Britain's biggest maker of accounting software, on Monday completed its acquisition of Best Software Inc. for $445 million. The U.K. group, which runs its U.S. operations out of Irvine, paid $35 a share in cash for Best, a Virginia maker of accounting and financial software applications for the Web. No layoffs are expected at Best, which operates as a wholly owned subsidiary of the British firm. Sage had $499 million in sales last year; Best reported annual revenue of $91.
BUSINESS
February 4, 1999 | Jonathan Gaw
England-based Sage Group PLC has agreed to spend $145 million to purchase accounting software firm Peachtree Software, which will then become part of Sage's Irvine-based subsidiary, the companies said Wednesday. Atlanta-based Peachtree will fill out Sage Software Inc.'s line of accounting software with an accounting package targeted at small businesses and sold through retailers. Peachtree, a subsidiary of Automatic Data Processing Inc.
BUSINESS
March 4, 1998 | Dow Jones
Sage Group PLC said Tuesday it completed its tender offer for stock of accounting software maker State of the Art Inc. in Irvine. State of the Art will become a unit of Sage Group, which now owns 98.6% of the Irvine company's outstanding shares. The British firm, a leading provider of accounting software for small- to mid-size businesses in Europe, paid $22 a share for State of the Art's stock. The stock, which trades on the Nasdaq market, will be removed by the end of March, the company said.
BUSINESS
February 4, 1999 | Jonathan Gaw
England-based Sage Group PLC has agreed to spend $145 million to purchase accounting software firm Peachtree Software, which will then become part of Sage's Irvine-based subsidiary, the companies said Wednesday. Atlanta-based Peachtree will fill out Sage Software Inc.'s line of accounting software with an accounting package targeted at small businesses and sold through retailers. Peachtree, a subsidiary of Automatic Data Processing Inc.
BUSINESS
July 1, 1999
David R. Butler, chief operating officer of Sage Software Inc., the Irvine subsidiary of Sage Group plc, will take on the additional position of president. Butler joined the company in April 1996 from Lawson Software, a provider of business management software. David W. Hanna will continue as chief executive of Sage Software.
BUSINESS
June 25, 1999 | P.J. Huffstutter
Sage Software Inc., the British-owned accounting software firm, extended the lease on its corporate headquarters facility in the Irvine Spectrum for eight years on Thursday, and leased a 68,000-square-foot building nearby on Technology Drive. Financial details of the leases were not disclosed. The new space will help house the fast-growing company, whose staff in Irvine has grown 20% in the last year to about 400 employees. Cushman Realty Corp. acted as an advisor to Sage on the transaction.
BUSINESS
October 20, 1998
Sage Software Inc., the Irvine accounting software maker, will absorb its Dallas-based sister company, Sage U.S. Inc. Sage Software was formerly known as State of the Art. In March, the company was acquired for $263 million by The Sage Group PLC, a British accounting software conglomerate that also owns the Dallas firm. The merger will expand the Irvine company's access to research and development staff as well as expand its local employee base.
BUSINESS
May 17, 1998
* David Mudgett has been appointed executive vice president of Newport Beach-based Donahue Schriber, and will oversee the company's regional and urban center division and third-party services. Before joining the company, he was president of Koll Real Estate Group's Asian division. Mudgett was president of Irvine Retail Properties Co., a subsidiary of the Irvine Co., for four years.
BUSINESS
July 19, 1998 | P.J. Huffstutter
State of the Art Inc., the Irvine accounting software maker that merged with British firm Sage Group PLC this spring, said Friday that it has changed its name to Sage Software Inc. The U.K. company, the leading provider of accounting software for small- to mid-sized businesses in Europe, owns 98.6% of the Irvine company's outstanding shares.
BUSINESS
March 4, 1998 | Dow Jones
Sage Group PLC said Tuesday it completed its tender offer for stock of accounting software maker State of the Art Inc. in Irvine. State of the Art will become a unit of Sage Group, which now owns 98.6% of the Irvine company's outstanding shares. The British firm, a leading provider of accounting software for small- to mid-size businesses in Europe, paid $22 a share for State of the Art's stock. The stock, which trades on the Nasdaq market, will be removed by the end of March, the company said.
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