Sage sell seven products for £93.4m
Sage have agreed to sell seven “non-core” products in the US, France and Spain for £93.4m.
The cash proceeds of the sales of products such as Sage ACT!, Sage SalesLogix and Sage Nonprofit Solutions will be returned to shareholders.
Guy Berruyer, chief executive, commented: “The sale of these non-core products is consistent with our strategy of focusing our business to accelerate growth and demonstrates significant progress in streamlining the portfolio, allowing regional management to focus on the considerable growth opportunities within their core markets.”
KPMG’s Northern Corporate Finance and Transaction Services advised on the deals.
Newcastle KPMG Partner Chris Stott said: “Sage is one of the biggest technology companies in the country and it is positively exciting to advise on such a high profile transaction which highlights the fact that local advisors can deliver on significant, complex, international deals.
“It is a fantastic example of the regional advisory base helping a global FTSE business deliver on its strategy to create shareholder value.”
This was posted in Bdaily's Members' News section by Tom Keighley .