Sage Group considering sale of entire payments business
UK-based The Sage Group's Chief Financial Officer Steve Hare said the FTSE-100 financial software company is thinking about selling all of its payments businesses, The Daily Telegraph reported. Hare said, besides considering a sale of the company’s North American payments business, Sage might sell its UK, Irish and South African payments businesses.
Sage announced on 7 December 2016 that it was considering strategic options for its North American payments business, including a sale. The North American business could fetch about USD 500m (EUR 467m), according to the report.
The UK, Ireland and South African payments businesses have aggregate annual revenues of about GBP 40m (EUR 47m), which is about one third of the North American business’ revenues, the newspaper said.