Sage to fight Archer claim

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The Independent Online

Sage has pledged to vigorously defend itself against a A$130m (£93m) claim from Archer Capital after the British software firm walked away from the potential acquisition of its Australian peer MYOB in August. Sage had entered into exclusive talks to buy MYOB from buyout groups Archer Capital and HarbourVest Partners, but the deal was derailed by market turmoil. MYOB, short for "Mind Your Own Business", was eventually sold to Bain Capital for $1.3bn (£815m), $100m less than Sage had offered.