The unit had an operating profit of about $2.7 million for the year ended September 30, compared to a loss of approximately $9 million for fiscal 2018. Revenue for the most recently ended year was about $68 million, roughly 1.8 percent less than for the prior year. Upon completion, Sage expects to report a non-cash loss on disposal of about $19.2 million. Sage said in its statement, “This divestiture is part of Sage's strategy to focus on subscription software solutions that are in or have a pathway to the Sage Business Cloud.”
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MANAGEMENT BUYS SAGE BRAZIL Featured
Local management has acquired Sage’s business in Brazil. The deal, which is for about $1.3 million, is expected to close within the next two months, the company said this week.
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