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Sage Group completes sale of Brazilian business

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Christian Fernsby ▼ | April 1, 2020
Accounting software firm Sage Group on Wednesday said it has completed the disposal of its Brazilian business.
Sage Group
Accounting   Sage sold the business for an initial GBP1 million
The deal was announced back on March 2, Sage having set out plans to put the Brazilian business up for sale along with its annual results in November.

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.