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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  The Sage Group plc    SGE   GB00B8C3BL03

THE SAGE GROUP PLC

(SGE)
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Sage : to sell payment processing unit for 232 million pounds

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11/18/2019 | 03:42am EST

Software company Sage Group Plc said on Monday it will sell its payment processing unit Sage Pay for about 232 million pounds ($296.87 million) to Elavon, a payments company and unit of U.S. Bancorp.

Growth in payment systems has kept deals rolling with Fidelity National Information Services Inc's buyout of Worldpay for about $35 billion earlier this year. In January, U.S.-based Fiserv Inc bought payment processor First Data Corp for $22 billion.

Sage Group expects a statutory profit on the disposal of about 180 million pounds, following completion of the deal.

The disposal comes more than two months after the company first said it was looking into potential options for its payments arm. It said the divested business will remain an important payments partner after completion.

"The acquisition extends Elavon's market share in the UK and Ireland, particularly for small and medium-sized enterprises where Sage Pay is a highly-trusted payments gateway with a loyal customer base," Elavon said.

Sage Group also agreed to sell its U.S. payroll outsourcing business earlier this year for 78 million pounds, as part of its strategy to focus on subscription services by moving more products to the cloud.

(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Shounak Dasgupta)

Stocks mentioned in the article
ChangeLast1st jan.
FISERV INC. 0.00% 114.79 Delayed Quote.56.20%
THE SAGE GROUP PLC 0.76% 723.8 Delayed Quote.19.19%
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Financials (GBP)
Sales 2020 1 942 M
EBIT 2020 438 M
Net income 2020 306 M
Debt 2020 270 M
Yield 2020 2,42%
P/E ratio 2020 25,6x
P/E ratio 2021 24,7x
EV / Sales2020 4,16x
EV / Sales2021 3,85x
Capitalization 7 806 M
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Technical analysis trends THE SAGE GROUP PLC
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Mean consensus UNDERPERFORM
Number of Analysts 19
Average target price 686,18  GBp
Last Close Price 716,80  GBp
Spread / Highest target 32,5%
Spread / Average Target -4,27%
Spread / Lowest Target -19,8%
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Managers
NameTitle
Steve Hare Chief Executive Officer & Director
Daniel Blair Crump President & Executive Director
Donald Hood Brydon Chairman
Jonathan Anton George Howell Chief Financial Officer
Klaus-Michael Vogelberg Group Chief Technology Officer
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