Sage has spent £225 million acquiring the remaining stake in SaaS vendor Brightpearl.Brightpearl is an SaaS vendor which offers a retail management system to retailers and wholesalers to give real-time business insights and help customers automate workflows.
The business will combine with Sage Intact to combine financial management, inventory planning, sales order management, purchasing and supplier management, CRM, fulfilment, warehousing and logistics management.
Brightpearl expects to generate £20 million in revenues for the 12 months ending December 2021, which would represent a 50 percent increase on the previous year. Its operating profit will break even during the same time frame, Sage claims.
The deal is expected to close in January 2022.
Sage CEO Steve Hare said that 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”, he said.
