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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.

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