Johannesburg, South Africa (Aug. 19, 2003) -- Exact N.A. has dropped out of the bidding for Softline Ltd., South African parent of North American business software companies AccountMate and BusinessVision, further opening the door for rival bidder Sage plc, the England-based parent of Best Software.
Softline confirmed a report that Exact, which was bidding in consortium with Softline shareholder Ivan Ferrer, pulled out because it could not match Best's 2.0 Rand per share offer for Softline, which trades on the Johannesburg Stock Exchange. The Netherlands-based Exact owns Exact North America, an Andover, Mass.-based business software company formerly known as Macola.
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