Sage Group completes sale of Brazilian businessChristian Fernsby ▼ | April 1, 2020
Accounting software firm Sage Group on Wednesday said it has completed the disposal of its Brazilian business.
Accounting Sage sold the business for an initial GBP1 million
Topics: Sage Group Brazil
Sage, based in Newcastle upon Tyne, sold the business for an initial GBP1 million with an up to GBP9 million deferred consideration. Sage expects to post a GBP15 million non-cash loss on the disposal.
The rationale behind the sale is Sage's move to focus on subscription software services and products with a pathway to its Sage Business Cloud, it had said. ■