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Software giant Sage takes control of Bristol-based Brightpearl

Jack Wride
Authored by Jack Wride
Posted: Monday, December 20, 2021 - 17:28

Sage Group has announced that it will take full ownership of Brightpearl, a Bristol-based technology firm offering businesses a multichannel retail management system.

Brightpearl provides retail operations solutions for e-commerce, multichannel retail brands and wholesalers. From its South-West headquarters it serves a global customer base that includes Shopify, eBay, Amazon and Walmart.

Sage Group, a software company based in Newcastle, already holds a 17% share in Brightpearl which it obtained last year and will now acquire the rest of the company for £225m, subject to regulatory clearance in the US.

The deal is the most recent in a series of business transactions made by Sage Group over the last 18 months, as they try to adapt to a changing business landscape resulting from the emergence of COVID-19. The company saw a fall in overall revenues last month, though recurring revenue rose by 5.4%.

Brightpearl is predicted to generate sales of £20.4m for FY21, a £9m increase from revenues created in its last full financial year.

Sage Group Chief Executive Officer, Steve Hare said: “Sage’s purpose is to knock down barriers so everyone can thrive. Together, Sage and Brightpearl will remove the barriers that hold back retailers and wholesalers, streamlining their systems and enabling them to focus on growth.

“I’m delighted to welcome Brightpearl, its management team and colleagues to Sage, and look forward to executing on our strategic priorities together and delivering accelerated growth.”

Derek O’Carroll, chief executive officer of Brightpearl, said: “We are thrilled to be joining Sage. Bringing our two teams together will combine the retail strength of Brightpearl and the scale, brand and financial expertise of Sage, enabling us to offer customers the most innovative financial and retail operating solutions so they can grow fearlessly, save time and deliver outstanding experiences.”

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