Johannesburg, South Africa (Aug. 4, 2003) Sage plc, the United Kingdom parent of United States-based Best Software, has increased its lead in the bidding for Softline Ltd., the South African parent of North American business software companies, AccountMate and BusinessVision.
Sage submitted a firm bid of 2.0 South African Rand, and Softline has scheduled a September 8 shareholders meeting to consider all offers. Other suitors are a group of internal Softline managers, which have bid 1.35 Rand, and Exact Software -- the Dutch-based parent of U.S.-based Exact North America, formerly called Macola -- which in consortium with Softline shareholder Ivan Ferrer offered 1.45 Rand.
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