UK accounting software outfit Sage today said it had agreed to acquire the remaining stake in Brightpearl, providers of cloud-based retail software, for $299m (£225m).
Sage already owns 17 per cent of the e-commerce software specialist but is set to acquire the remaining 83 per cent, funded from Sage's existing cash and available liquidity.
Sage claimed the move will bring growth by targeting mid-sized businesses. It hopes the combination of Sage's cloud-based accounting software Intacct and Brightpearl will be taken up by retailers and wholesalers looking for an integrated approach to financial management, inventory planning, sales order management, purchasing and supplier management, CRM, fulfilment, warehousing, and logistics management.