Software giant Sage has announced that it will acquire Brightpearl, which makes an operating system for retail management, for £ 225 million.
The agreement for Brightpearl provides Sage with an additional set of services to combine with its existing accounting, finance, human resources and payroll tools for small and medium-sized businesses.
The SaaS model used by Brightpearl is also easily integrated, helping Sage expand its relationships with existing customers in the retail sector.
Sage's Shimmering Pearl Arrangement
Sage already owned 17% of Brightpearl and the acquisition will be financed in cash.
Brightpearl is expected to generate £ 20 million in revenue by 2021, up 50% from the previous year and break even, according to Sage, according to Sage.
The ultimate goal of the combined companies is to provide a set of tools covering financial management, inventory planning, sales, supplier relationships, CRM, fulfillment and warehousing, and logistics in one place.
“Sage's goal is to break down barriers so everyone can thrive,” says CEO Steve Hare. Together, Sage and Brightpearl will remove the barriers holding back retailers and wholesalers, streamlining their systems and allowing them to focus on growth. "
"We are delighted to join Sage," said Derek O'Carroll, Brightpearl's CEO. “The combination of our two teams will combine the retail strength of Brightpearl with the scale, brand and financial expertise of Sage, enabling us to provide clients with the best-in-class financial operations and retail solutions. More innovative so that they can develop without fear, save time and offer exceptional experiences. "
The deal is expected to finalize in January 2022.