Last checked at 11 Mar 2020 15:11
Sage completes disposal of Sage Pay and announces share buy-back programme
11 March 2020
Further to the announcement dated 18 November 2019, The Sage Group plc ("Sage") confirms that it has completed the disposal of Sage Pay to Elavon, a leading global payments company and wholly owned subsidiary of U.S. Bancorp, for a cash consideration of approximately £232 million (subject to a customary post-completion net debt and working capital adjustment).
Reflecting the sale proceeds from the Sage Pay disposal, Sage also today confirms that the £250 million capital return, announced on 20 November 2019, will be executed via a share buy-back programme which is expected to commence shortly. Further details of this buy-back programme will be provided in a separate announcement.
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Sage is a global market leader for technology that helps small and medium businesses perform at their best. Sage is trusted by millions of customers worldwide to deliver the best cloud technology and support, with our partners, to manage finances, operations, and people. We believe in doing everything we can to help people be the best they can be, so the combined efforts of 13,000 Sage colleagues working with businesses and communities make a real difference to the world.
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