Estimated reading time: 0 minutes, 39 seconds

SAGE SIGNS DEAL FOR POLISH OPS Featured

Sage has reached an agreement to sell its operations in Poland to Mid Europa Partners. The move is part of a previously announced decision to exit several smaller markets.

Mid-Europa will pay approximately $75.2 million for the Polish business. Sage reported operations in Poland produced revenue of roughly $28.4 million for the year ended September 30, an increase of 10.5 percent over fiscal 2019. Operating profit for the most recently ended year was about $5.4 million, unchanged from the prior year. Also on the block are Sage’s business in Switzerland, the South African payroll business, and businesses in Asia. Australia operations are also for sale, excluding Intacct, People and X-3. Sage’s annual report for fiscal 2020 show it had 2,229 employees outside of Europe and North America, down from 3,005 from the end of the prior fiscal year.

Read 1556 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.