Best Software Completes Integration of ACCPAC

On 10 June 2004, Best Software will be issuing an announcement with further information about ACCPAC
Best Software, the leading provider of business management products and services, and its UK-based parent company, The Sage Group plc, today announced they have completed the integration of the recently acquired Pleasanton, California-based business management software vendor ACCPAC International, Inc. (“ACCPAC”). ACCPAC will operate as a business unit of Best Software. ACCPAC President and CEO, David M. Hood, will be leaving the company effective June 30, 2004 and Susan Sheridan has been promoted to the position of General Manager for the ACCPAC business unit.
“We have moved quickly and our partners and customers have already begun to realize benefits with the integration of the ACCPAC products into the Best Software family,” said Ron Verni, CEO of Best Software. “We are excited to have Susan Sheridan as our General Manager to help build ACCPAC as a very important business unit within Best Software. Although we’re extremely disappointed to see David leave, we fully understand that his talents as a seasoned CEO are providing him with new and exciting opportunities, and we wish him well.”
Since assuming leadership of ACCPAC in 1999, Hood led its geographical and product line expansion completing eight acquisitions throughout North America, Europe, Africa and Australia. In addition, he developed key strategic alliances with companies such as IBM, Microsoft, Red Hat and SuSe Linux, ultimately transforming ACCPAC from an accounting software vendor into a leading global provider of end-to-end business management applications for small and medium size businesses. An IPO was initiated by Hood, and filed with the SEC prior to the ultimate sale of ACCPAC to The Sage Group, plc on March 8, 2004.
The integration of ACCPAC helps strengthen the overall Best Software portfolio. The ACCPAC Simply Accounting product line will report into Best Software’s small business division, and the ACCPAC mid-market business will report into Susan Sheridan, as part of the company’s mid market division. ACCPAC will also bring worldwide benefits to the Sage Group plc, enhancing its business in Australia and South Africa, and providing an entry into Asia with a strong position in Singapore. In addition, ACCPAC’s CRM business will report on an interim basis to Ron Verni and will be integral components of an entire line of Customers & Contact Management and CRM products that also includes ACT! and SalesLogix.
Susan Sheridan has previously been the Senior Vice President of Marketing at ACCPAC, where her responsibilities focused on the complete marketing arena, including product marketing, channel marketing, business development, web services and customer care. Sheridan joined ACCPAC in July 2000 upon ACCPAC’s acquisition of SBT Accounting Systems, where she was Executive Vice President. She previously worked at Autodesk, where she served as marketing director and in product and channel-marketing positions. Her background includes building and selling her own marketing agency and stints at hardware and software companies, including Microsoft.
Best Software will be rolling out their new product and technology vision at the Insights 2004 conference which will bring together business partners representing all Best Software products and services from Abra, ACT!, ACCPAC, Peachtree, and MAS 90, to MIP, SalesLogix, Simply Accounting, BusinessVision, and Timberline Office.