Los Angeles, Calif. (April 29, 2004) -- Datafaction, the first company purchased by the former Softline when it entered the North American accounting software market, has been sold back to its founder.
Sage, which acquired Softline last year, decided to sell Los Angeles-based Datafaction to its chief executive and former owner, Brian Kleinman, for an undisclosed amount. Softline bought Datafaction in January 1999 for what was described as in excess of 32 million South African rand, equal to at least $5.46 million when the deal was announced. The same deal would be worth about $4.6 million at current exchange rates.
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