9th Sep 2019 18:37
(Alliance News) - FTSE 100-listed technology firm Sage Group PLC on Monday confirmed press reports that it was evaluating potential strategic options for its Sage Pay division, including a sale.
"There can be no certainty that this evaluation will lead to any transaction," the company said.
Earlier on Monday, Sky News reported that Sage is in talks to sell its Sage Pay division, which processes payments for small business customers.
Sage is said to have hired investment bank Rothschild to find a buyer for the division. Sky News said that an auction for Sage Pay had commenced several weeks ago, and is likely to draw interest from several payment groups and private equity firms.
https://news.sky.com/story/ftse-100-tech-group-sage-plots-sale-of-payments-arm-11805770
Shares in Sage closed 2.5% lower at 692.80 pence on Monday in London.
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