Pegasus Group Plc has bought an accounting software product from Sequel Systems Ltd, which was developed by Johnnie Johnson, one of the original founders of Pegasus Software and author of the current Pegasus Senior range; when he left Pegasus in 1989, an agreement was reached whereby he would offer Pegasus first refusal to market or acquire any accounting product he developed; Pegasus says it paid a sum equivalent to less than one third of the group’s unaudited product research and development costs in the 12 months to July 31 1992; a team of Pegasus and Sequel staff will further develop the product over the next few months, for a full launch in the second quarter of 1993, when the thing will form the basis of a complete new range from Pegasus, initially to be sold alongside the Senior product; it is based on the Foxpro database development environment.
