Thinking about processing a payment, Sage Group? Biz confirms mulling sale of Sage Pay

The Sage form exchange accounting software team has confirmed that it is trying to download the Sage Pay division.

The company listed on the London Stock Exchange made admission in response to a report that it had recently hired the investment bank Rothschild to market the division.

While he insists that "there can be no certainty that this evaluation leads to any transaction," Sage has already hit his US payroll tentacle, Sage Payroll Solutions, in an agreement that was completed in February.

Sage Payroll solutions were approximately £ 78 million, according to the company and Sage reported a gain of £ 27 million in disposition in its unaudited accounts as of March 31, 2019. The company has not shared how much it is dealing with. to win with the Sage Pay business. 19659002] A look at the results of Sage Pay Europe in the accounts for the year ending September 30, 2018 shows revenue of £ 32.86 million, compared to £ 28.69 million the previous year. Earnings were also £ 18.54 million, compared to £ 16.3 million in 2017.

And that was with a tax bill of 4.4 million pounds that was not similar to Amazon's.

The United Kingdom accounted for most of those Sage Pay Revenue, increasing to £ 27.1m. Revenue from Europe also rose to £ 4.93 million, compared to £ 4.09 million in 2017. Things did not go so well with the rest of the world: the company saw a decrease of £ 0.92 million to £ 0.82 million.

Of course, in the grand scheme of things, Sage Pay is a small fish in regards to the broader Sage group. In its last set of unaudited accounts, the group had total revenues of £ 941 million for the first half of 2019, an increase of 6.2% year-on-year.

CEO Steve Hare, formerly CFO and then interim CEO, replaced Stephen Kelly, head of the profile group, in November last year, after Kelly left work at £ 790k a year in August. The accounting software organization has been pushing the cloud that analysts have warned would come "at the cost of growth and short-term profitability."

Sage Pay began operating in 2001 as the British commercial services company Protx before being acquired by Sage in 2006 and renewed in 2009 to become Sage Pay. Currently claims 50,000 customers. ®

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