Please wait ...

Smaller Related Party Transaction

RNS Number : 3004X
Sage Group PLC
05 May 2016
 

 

                                                     05 May 2016

The Sage Group plc

Investment in Fairsail - Smaller related party transaction

The Sage Group plc ("Sage") announces that it has entered into an agreement to acquire 20.7% of the issued share capital of FAIRSAIL LIMITED ("Fairsail") for total consideration of £10m.

 

 

Fairsail is a privately owned software developer providing human capital management ("HCM") cloud solutions for mid-sized businesses. Sage has also extended its partnership agreement with Fairsail to offer its cloud HCM products as an integrated solution for Sage's leading business management system, Sage X3. Sage also intends to implement the Fairsail product as its global HCM solution.

 

 

Stephen Kelly, a Director of Sage was until recently a minority shareholder in Fairsail. The transaction is a smaller related party transaction under LR 11.1.10.R.

 

 

 

Enquiries:

 

The Sage Group plc


Tulchan Communications

+44 (0) 191 294 4190


+44 (0) 20 7353 4200

Simon John, Investor Relations


David Shriver

Amy Lawson, Corporate PR       


Jonathan Sibun

 

ENDS


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCMMGGKZDMGVZZ