Sage acquires Protx

NEW DELHI: The Sage Group ("Sage"), a supplier of business management software solutions, announces the acquisition of Protx Group Ltd ("Protx") from its shareholders for £20 million, paid in cash.

Protx established in 2001, specialises in providing secure, online payment services for small and medium businesses in the UK with a customer base of over 10,000 businesses. The company has gained approval from all major banks to facilitate secure on-line transactions, including Lloyds TSB Cardnet, Bank of Scotland, Barclays Merchant Services, HSBC, Natwest Streamline, American Express, Diners Card, JCB and Euroconex.

Sage said in a statement that this acquisition is an important step in fulfilling its vision to provide a broader business solution for SMEs, which will eventually enable them to link and integrate merchant services with back-office accounting, stock control and CRM applications.

Paul Walker, chief executive of The Sage Group, said, "The acquisition of Protx brings Sage the capability to integrate secure payment systems with our business management software. With Protx in the UK and Verus in the US, we continue our strategy to expand into new adjacent markets and broaden the range of services we can offer our SME customers. "

Payment processing services support retail, business to business and e-commerce businesses in processing customer transactions through credit cards, debit cards and cheques. When Sage acquired Verus in the US earlier this year, it was clear that SMEs are increasingly using e-commerce to promote their businesses and there is a growing demand for secure payment processing services, coupled with high levels of support.

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