Peace Software sold to US company

Auckland-based business software development company Peace Software has been sold to Nasdaq-listed global entity First Data.

Denver-based First Data, which has annual revenues of more than US$10 billion ($16 billion), has not disclosed what it paid to buy Peace, which has about 170 staff and specialises in billing systems and customer support solutions for utility companies.

Among the shareholders selling to First Data is Brian Peace, who founded the company in 1984.

David Bailis, executive vice-president of First Data, said the company believed Peace was the most advanced Customer Information System product on the market. "We plan to continue to develop and strengthen the Peace line of software products in the years to come."