Sage Group PLC Disposal of Swiss business (4188U)
06 April 2021 - 4:00PM
UK Regulatory
TIDMSGE
RNS Number : 4188U
Sage Group PLC
06 April 2021
Disposal of Swiss business
6 April 2021
T he Sage Group plc ("Sage") today announces that it has entered
into an agreement for the sale of its Swiss business to Infoniqa, a
provider of HR software solutions majority-owned by Warburg Pincus.
Sage previously announced that the business was held for sale in
its full year results announcement on 20 November 2020.
The sale consideration is approximately CHF 50m (GBP39m),
payable in cash on completion (subject to adjustment for net debt
and working capital). For the year ended 30 September 2020, the
business achieved revenue of GBP25m (FY19: GBP29m) and operating
profit of GBP4m (FY19: GBP8m).
The transaction is subject to certain closing conditions and is
expected to complete within the next twelve months.
Enquiries
The Sage Group plc +44 (0) 7900 046714
James Sandford, VP, Investor Relations
Amy Lawson, EVP Communications
Derk Bleeker, Chief Corporate Development Officer
FTI Consulting +44 (0) 20 3727 1000
Charles Palmer
Dwight Burden
About Sage
Sage is the global market leader for technology that provides
small and medium businesses with the visibility, flexibility and
efficiency to manage finances, operations and people. With our
partners, Sage is trusted by millions of customers worldwide to
deliver the best cloud technology and support. Our years of
experience mean that our colleagues and partners understand how to
serve our customers and communities through the good, and more
challenging times. We are here to help, with practical advice,
solutions, expertise and insight.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DISUVAKRAAUSRAR
(END) Dow Jones Newswires
April 06, 2021 02:00 ET (06:00 GMT)
Sage (LSE:SGE)
Historical Stock Chart
From Apr 2024 to May 2024
Sage (LSE:SGE)
Historical Stock Chart
From May 2023 to May 2024