Business software group Sage has announced that through its subsidiary Sage Pay Europe it has acquired Integral Computers, a cardholder present payment processing provider based in Ireland for a cash consideration of up to €20m (£16.7m).
Integral provides services to retailers that have either standalone or integrated Electronic Point of Sale payments requirements. Its platform has processed over 100m transactions in the last 12 months, with a value of €6bn.
Following the acquisition, Integral will be rebranded Sage Pay and will be fully integrated into the Sage Pay business.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Sage Chief Executive Officer Guy Berruyer said: "The Integral business is highly complementary to our business and marks Sage Pay's entry into the cardholder present market in the UK and Ireland.
"The acquisition broadens Sage Pay's customer offering, significantly extends Sage Pay's addressable market, offers attractive integration and cross-sell opportunities for Sage and is the type of acquisition which increases our exposure to higher growth segments."
The share price rose 0.16% to 303.7p by 13:26.
NR
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
