Pleasanton, CA, June 15, 2000 — ACCPAC International, Inc., a division of
Computer Associates' (NYSE: CA) interBiz group, today announced plans to
acquire Software Business Technologies, Inc., known as SBT Accounting
Systems (SBT). As a result, ACCPAC International, Inc. will have more than
550,000 installations and 5,500 business partners in more than 100 countries.
Financial terms were not disclosed.
ACCPAC is an industry-leading developer of accounting and e-business
software solutions for small and medium-sized enterprises (SMEs). SBT, based
in San Rafael, California, is a leading provider of database accounting
solutions. SBT accounting software provides maximum customizability by
making its source code available to its channel partners and end users. SBT
supports its solutions via a channel of more than 1,500 resellers and integration
partners, and more than 150 employees.
ACCPAC will move forward with both the SBT and ACCPAC product lines. The
companies' marketing, sales, service, and support programs will be unified.
This will streamline programs and allow for expansion to better serve customers
and partners. Overall, ACCPAC's strategy is one of ongoing distinct product
lines serviced via unified programs.
"For more than 20 years, ACCPAC and SBT have been providing cutting-edge
solutions to a diverse client base," said ACCPAC President and CEO David
Hood. "This union will bring together distinctive yet complementary
technologies, creating tremendous synergies and benefits for our respective
customers, resellers, integration partners, and employees. With our expanded
portfolio of solutions we can offer the best of both worlds-the best out-of-the-box
solutions and the best database accounting solutions customizable at the
source code level."
"Today's announcement is terrific news for SBT customers and resellers," said
SBT President and COO William Mills. "We now have two robust, dynamic
product lines, significantly enhanced research and development resources, and
a much stronger overall market presence. This means that our customers have
more choices moving forward, and our resellers have considerably greater
market leverage than they did yesterday. SBT couldn't have asked for a better fit
than ACCPAC."
"SBT has grown a very sophisticated channel intimately familiar with its
technology," added Hood. "We are committed to preserving and further
developing the unique strengths of the SBT channel partners and products."
"This is great news for SBT resellers and integration partners," said David
Lahey of Lahey Software, Inc., a leading SBT reseller and integration partner.
"The global reach of ACCPAC in the mid-range accounting software market
instantly expands the breadth of marketing and sales resources available to
SBT business partners. I'm very excited about the growth opportunities inherent
in today's announcement, and particularly pleased with the clear commitment to
SBT's ongoing product strategy."
"This is a very positive move by ACCPAC, and further demonstrates the
company's serious commitment to becoming the world's leading provider of
accounting and e-business solutions for SMEs," said Sandy Needham of
American European Consulting Co. Inc., a leading ACCPAC reseller.
Retiring SBT Chairman and CEO Robert Davies will contribute to the expanded
organization in an advisory capacity. Mills and Executive Vice President Susan
Sheridan will continue to play active management roles. The acquisition is
expected to close before the end of July.
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ACCPAC International, Inc.
Based in Pleasanton, California, with offices in Canada, Singapore, the United
Kingdom, and Australia, ACCPAC has more than 500,000 registered clients
and 4,000 business partners in more than 100 countries worldwide. Visit
ACCPAC's Web site at www.accpac.com.
SBT Accounting Systems, Inc.
SBT, SBT Executive Series, and VisionPoint are registered trademarks. SBT
ACCOUNTING SYSTEMS, SBT Pro Series, and the SBT logo are trademarks
of SBT Accounting Systems.
Certain of the statements in this press release are forward looking in nature
and, accordingly, are subject to risks and uncertainties. The actual results may
differ from those described or contemplated.
All product names and trademarks referenced herein are the property of their
respective companies. FAXserve and BitWare are trademarks of Computer
Associates International, Inc.
For additional information, please contact: A. B. Computer Systems, Inc. at (800) 440-4082.
ACCPAC International, Inc., a division of Computer Associates' (NYSE: CA)
interBiz group, empowers small and medium-sized enterprises to compete in
the Internet economy through a broad range of financial accounting and
business management software solutions. Award-winning product lines include
ACCPAC Corporate Series, ACCPAC Small Business Series, ACCPAC
Discovery Series, ACCPAC eAdvantage Suite, Simply Accounting, FAXserve,
and BitWare.
SBT Accounting Systems is the world's leading supplier of database
accounting solutions customizable at the source code level. SBT's four product
lines are tailored to distinct segments of the accounting market: SBT Executive
Series for client/server; SBT Pro Series for mid-range businesses; and SBT
VisionPoint and Small Business Accountant for smaller and new businesses.
SBT Accounting Systems, SBT Internet Systems, and SBT Business Products
are divisions of Software Business Technologies, with offices in San Rafael,
California, Atlanta, Georgia, and Scottsdale, Arizona. Visit SBT's Web site at
www.sbt.com or call 800.944.1000 for more information.
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