Apex Software, the Dublin-based supplier of software to the accounting profession, has been acquired for £20 million (€25.4 million) by Sage Software, a British subsidiary of Sage, the supplier of business software solutions.

The acquisition will enable Sage Ireland, which employs 115 people in Dublin, to focus on the professional accountancy sector as well as resellers and small to medium-sized businesses.

Speaking at the opening of Pinnacle Computing's new offices in Dublin, Sage's managing director, Mr Graham Wylie, said the firm would continue to invest heavily in the Irish marketplace.

Sage Ireland will relocate from Regus House in Dublin to its new premises in Citywest in July.