Sage partner Elavon to acquire Sage Pay
Your Questions Answered
Today, Sage announced that it has signed an agreement to sell Sage Pay to Elavon, a leading global payments company, pending regulatory approval in the US and Ireland.
Sage's strategic focus is on building a great software business in accounting, financials, people and payroll for small and mid-sized organisations, working with partners in the payments space to deliver payments functionality to its customers. In that context Sage, together with the Sage Pay management team, came to the conclusion that the best way to ensure customers continue to receive great service and innovative payments solutions from Sage Pay was to find it a new home outside Sage. Elavon is in a unique position to bring additional technology and payments expertise, as well as further investment to Sage Pay, enabling us to better support our customers, increase our pace of innovation and focus on customer success.
This will not result in any change in current terms of service, and while the deal is being finalised, Opayo remains part of Sage. We are committed to managing a smooth transition and will update you with further information as soon as it is available.
1. What was announced today?
Today, we announced that we have entered into an agreement to sell Sage Pay in whole to global payments company, Elavon.
As part of our vision of becoming a great SaaS company, we need to focus on the things that will accelerate our progress and simplify our business to ensure that it reflects the choices we have made. Sometimes, this means we look to find new homes for parts of our business that we think would be more successful outside of Sage. Earlier this year, we confirmed that we were evaluating strategic options for Sage Pay, and the result of this is today’s announcement. We expect this new combination will take advantage of the strengths of both companies and accelerate the vision of being the payments solution of choice to businesses all around the world.
2. Who are Elavon?
Elavon is a leading global payments company with more than 4,300 employees in 10 countries. It has substantial operations in the UK and Ireland as well as Poland, Germany and the Nordics. A subsidiary of U.S. Bancorp, Elavon provides businesses with the technology needed to accept payments from customers, whether they are shopping in stores, at home or on the go.
As a payments industry leader, Elavon will bring additional technology and payments expertise, as well as further investment to Opayo, enabling it to better support our customers, increase our pace of innovation and focus on customer success.
3. When will the deal complete?
Completion of the transaction is subject to Elavon obtaining certain regulatory approvals and is expected to complete early next year.
4. What is the impact on me as a Sage Pay customer?
All services will continue to be delivered as usual to customers, and the Sage Pay team remains the same.
5. Will Sage Pay continue to support integrations with Sage Accounting?
Yes, Opayo will continue to support all integrations that it currently provides to third parties, such as Sage.
6. What happens if I am with an acquirer that is not Elavon?
7. Who can I contact for more information?
Existing customers can contact our dedicated UK-based support team 24/7 on 0191 313 0299.