Sage is a UK-based software firm with annual revenues of £1.3 billion or $2.5 billion CDN.
MYOB is an Australia-based software firm with annual revenues of A$246.6 million or $230 million CDN.
MYOB is now owned by US-based Bain Capital (of Mitt Romney fame), but when in late 2011 the owners of MYOB initiated an auction to sell the firm the early winner was the aforementioned Sage. Why a legacy software firm would wish to buy another is another story, which might explain Sage brass ending up forfeiting the opportunity, but for readers interested in technology firm manoeuvers, corporate negotiations and handling of shareholders’ money or law and litigation Lexology, a website for lawyers, has a fascinating article on the lawsuit and legal deliberations that followed the tender.
At my first law course at University the instructor and text book insisted that a handshake implies a legal agreement… apparently not.