We have entered into an agreement for the sale of our businesses in Asia and Australia to The Access Group. The sale excludes the sale of our global products Sage Intacct, Sage People, Sage X3, Sage 300, Sage CRM, Sage 50 and Sage Business Cloud Accounting that are part of our global growth strategy.
The transaction, which is subject to approval by the Australian Foreign Investment Review Board (FIRB), is expected to complete no later than the end of June, 2021.
Sage announced that these parts of the business were held for sale in its full year results on 20 November 2020.
For Sage customers whose products remain part of the Sage Group, you can count on our ongoing customer service, support and innovation as part of our commitment to help your business thrive.
For customers and partners of local products, The Access Group has a history of acquiring and investing in market-leading companies. This is an exciting opportunity to deliver focused investment to local product development and access a broader range of cloud solutions from a single provider.
During this pre-completion period it will be business as usual while we work through the business model with The Access Group. Your service and our commitment to you will not change. We will update you as the process develops.