Payments monye case 1Sage has agreed to sell Sage Pay to Elevon, a payments subsidiary of U.S. Bancorp for around $300 million in cash. The agreement will take Sage out of the payments business.

 The announcement came in advance of this week's release of results for the year ended September 30. The United Kingdom-based software company sold its North American business, now known as Paya, in 2017. Sage expects a profit on disposal of approximately $232 million. Sage Pay reported an operating profit of about $19 million for the year ended Sept. 30, 2018 on revenue of approximately $53 million.

Last modified on Friday, 22 November 2019
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