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.
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SAGE PAY DEAL STRUCK Featured
Sage 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.
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