Pensacola, Fla. (Sept. 5, 2002) -- Best Software, best known for developing technology products for the general business market, has acquired CPASoftware, primarily known for developing systems for accounting professionals.CPASoftware, based in Pensacola, Fla., will continue operating and its president Mark Fenimore will report to Best Software executive vice president Nina Smith. As part of the deal, CPASoftware products will be marketed to the 20,000-plus CPAs who serve as consultants and resellers of Best's products. Financial terms of the deal were not released.

"Traditionally, we have partnered with CPAs who have helped expand our business by recommending and reselling our products to their clients. This acquisition enables us to further build on these established relationships," said Smith.

Best's products include the Peachtree and MAS 90 accounting software lines, MIP nonprofit industry software, Abra payroll and FAS fixed asset software. CPASoftware's "Visual" products, include tax preparation and client write-up systems and practice management software designed for accountants and other business services professionals, such as lawyers and consultants.

-John M. Covaleski

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