Softline buys Pastel for 200 million!!!!
JOHAN HOME
I know its not the correct forum, but as there appears to be no other,
here
is the official press release from the Pastel home page.
Regards
Ben
"Softline Limited has acquired the Pastel Software group for R200
million.
Pastel is South Africa's leading developer and supplier of accounting
software to small and medium-sized businesses and the transaction
establishes the merged group as by far the largest accounting software
player in South Africa and a force in world terms with, collectively,
some
260 000 users of its products worldwide.
Ferrer states that for all Pastel international distributors, VARs,
dealers,
accountant’s forum members, third party developers and users, it’s
business
as usual. "We will not be changing our business model, but we believe
that
many new opportunities and benefits will accrue to our partners and
users in
the near future", says Ferrer.
"Pastel has an extremely strong brand, has been well marketed and has
built
a comprehensive dealer base both locally and internationally", says
Softline
CEO Ivan Epstein. "Furthermore, Pastel has achieved significant
penetration
in the accounting sector, providing the brand with strong credibility
and
brand awareness".
Ferrer joins Softline Limited's main board of directors where he
assumes the
responsibility for driving the combined group's offshore mid-range
accounting software strategy as a leading exponent in the global
market.
"This is a strong endorsement of his prowess in building Pastel into
an
international player with over 110,000 users in 34 countries", says
Epstein.
"Both Pastel and Softline were working separately towards the same
goal of
creating a global accounting brand", says Ferrer. "By pooling
resources and
skills, this deal will leapfrog us towards achieving that goal. I look
forward to working with Softline’s management and I believe that our
complementary skills make us an exceptionally strong team to lead the
group
forward in its quest to become a significant global player".
The architecture of the Pastel application provides considerable
flexibility
in modifying the application to be localised and regionalised,
catering for
a number of environments, languages, currencies, tax and payroll
systems.
Pastel's software is available in English, Afrikaans, French, Dutch,
Portuguese and Danish and, due to the fact that it is fully Euro
compliant,
provides the opportunity for significant penetration into European
markets.
Mike Katz retains his responsibilities as development director, to
further
focus on the groups accounting software R&D functions both locally and
abroad.
Pastel has received a number of international awards, as well as
extensive
reviews, and is accredited by the Institute of Chartered Accountants
in
England and Wales."
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~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Johan van Zyl
Somerset West
South Africa
j...@intekom.co.za
CPD 2.110, CW Standard 2002, CW5EE
File Manager 2, Wise Installation
MS Office, Zoltrix Speaker/Fax/Modem
Clarion/Pastel Accounting Systems discussion list at
http://cwpastel.listbot.com
JOHAN HOME
Pastel(Pastel Accounting -( http://www.pastel.com) and
Softline(http://www.softline.co.za)(Brilliant
Accounting(http://www.brillacc.co.za) - were also agents for
Quickbooks)
are both well established South African companies. Softline was listed
on
the Johannesburg Stock Exchange (JSE) a year or so ago and since then
they
have been on a buying spree. One of their purchases include Triple-S
Computers, who is a softwarehouse(Progress/Clarion) in Cape Town for
about
R 20 million.
Pastel is so well established - you cannot open a newspaper here in
Cape
Town/Somerset West without finding job adverts of companies looking
for
people with Pastel skills - that I do not think you will be wasting
your
time.
Tony Last can tell you however how much Softline spent (millions?) on
Brilliant Discovery - their 32 bit Indusrial Strength Accounting
Package
that would have retailed at about R 17,500 -(Pastel between about R
1300
and R 2500)
I sincerely hope there will be an improvement in the way the Pastel
Discussion List will be run.
I have my own discussion list at http://cwpastel.listbot.com - for
Clarion
Programmers who write add-ons for Pastel.
And to quote Ben, whoever he is
subscribe/unsubscribe from this list send a mail to li...@pastel.com,
do not
enter a subject and the body of your mail should contain the words:
subscribe developer_list
unsubscribe developer_list
The body of the e-mail should contain nothing else.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
~~~~~~~
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From: David Blundell <RedE...@compuserve.com>
To: Blind.Cop...@compuserve.com
Subject: Pastel and Brilliant
Date: Friday, February 19, 1999 1:50 AM
Hi Johan
I suppose you would have heard now about this takeover <g> .. I speak
with Terry Fake regularly !
I know nothing about these guys so I am asking if you could please
hunt
around and give me the skinny.
Who the hell are they ? Do you know . Do you have a www reference site
for them.
I want to be real sure that my investment in time with Pastel won't be
wasted with the new owners.
I would like to check out their product range completely.
Any pointers you can offer would be appreciated
Regards
David Blundell
Email - rede...@compuserve.com
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