Sage has been declared preferred bidder for Aussie small biz and accounts firm MYOB.

The Geordie firm is bidding A$1.3bn (£823m), which tops offers from Bain Capital and Kohlberg, Kravis Roberts and Co.

The two private equity/asset stripper firms were stymied by the downturn in debt markets in recent weeks.

The offer is a generous valuation of MYOB and would be Sage's biggest ever buy.

Sage said yesterday it was in the bidding: company spokespersons were unavailable at the time of writing. ®