By Frank Prenesti
Date: Monday 18 Nov 2019
LONDON (ShareCast) - (Sharecast News) - Technology group Sage said it had agreed to sell its Sage Pay business to US Bancorp's payments unit Elavon for £232m.
Sage on Monday said it expected to report a statutory profit of around £180m on completion, which would close in the second quarter of the 2020 fiscal year.
For the year ended 30 September 2018 Sage Pay had revenue of £41m and operating profit of £15m.
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