The Sage Group wraps up Brightpearl acquisition

The Sage Group, a specialist in accounting, financial, HR and payroll technology for SMEs, has completed the acquisition of Brightpearl, a cloud native omnichannel operating system for retailers and wholesalers.

Sage already had a 17% minority stake in Brightpearl. The consideration for the other 83% is $299 million, which will be funded from the former’s existing cash and available liquidity.

For the year ending December 2021, Brightpearl is expected to generate revenues of $27 million, representing growth of around 50% compared to the prior year, and to achieve operating profit around the break even level.

News: Sage completes the acquisition of Brightpearl!

Bringing together the financial expertise of Sage with the retail strength of Brightpearl is a game-changer for merchants. Read more here: https://t.co/1ZK2RprRyP pic.twitter.com/dabbbQcrMG
— Brightpearl (@BrightpearlHQ) January 18, 2022

“We have made great strides in providing the technology businesses need to digitally transform their organisations today and for tomorrow,” says Dan Miller, EVP, Sage Intacct

“For Sage Intacct customers, the value of being part of the Sage digital network is truly coming to bear through the AI technology we have put in their toolkit to help them streamline their work and save them valuable time – whilst providing their customers with an even better service.”

“The acquisition of Brightpearl sees us doubling down on our vertical strategy to bring these benefits to retail e-commerce organisations, expanding our ability to increase the role technology plays in the world’s leading businesses.”

Sage is in the process of onboarding early adopter customers to an integrated solution between Sage Intacct and Brightpearl. This will be broadly available in late 2022.

“We have been both a Brightpearl and Sage Intacct customer for a few years now and are excited to see the coming together of these two brands,” says Maria Gunter, CFO, BASE, a specialist in materials procurement and manufacturing.

“Customers will find benefit in combining the power of Brightpearl’s e-commerce automation on the front-end with Sage Intacct’s best in class accounting features on the back-end to both streamline business processes and provide the most robust financial reporting and managerial analysis available.”

“We look forward to seeing what the future holds.”

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