Sage to fight Archer claim
Sage has pledged to vigorously defend itself against a A$130m (£93m) claim from Archer Capital after the British software firm walked away from the potential acquisition of its Australian peer MYOB in August. Sage had entered into exclusive talks to buy MYOB from buyout groups Archer Capital and HarbourVest Partners, but the deal was derailed by market turmoil. MYOB, short for "Mind Your Own Business", was eventually sold to Bain Capital for $1.3bn (£815m), $100m less than Sage had offered.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies