INSUBCONTINENT EXCLUSIVE:
Today, Elavon, the payments company that is a subsidiary of US Bancorp, announced that it will acquire Sage Pay, one of the bigger payment
The deal is still subject to regulatory approval (both by the Federal Reserve in the US and the Central Bank of Ireland), and if all
proceeds, the deal is expected to close in Q2 of 2020.The acquisition points to a bigger trend underway in e-commerce
The market is very fragmented, not just in terms of the companies who sell goods online but also (and perhaps especially) in terms of the
companies that manage the complexities at the back end.In keeping with that, Sage Pay has a lot of competitors in its specific area of
taking and managing the payments process for online retailers and others taking transactions online or via mobile apps
businesses covering many countries and are each larger than Sage, valued in the billions rather than hundreds of millions of dollars), but
been taking place to gain better economies of scale in a market where individual transactions generally generate incremental revenues.Sage
Pay, in that context, was a relatively small player
Sage Group for the last couple of years has been divesting payments and banking assets to focus more on accounting, people and payroll
continue to focus on serving small and medium sized customers with subscription software solutions for Accounting - Financials and People -
Currently it is active in 10 countries, but in that same vein of consolidation to improve economies of scale on the technical side, and to
