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15 Jan 2019 | 13:12

Sage sells US payroll business to iSolved for £78m

Enterprise software supplier Sage Group said it had agreed to sell its US-based payroll outsourcing business to iSolved HCM for around £78m.

Sage said it expected the deal, which remained subject to US antitrust approval, to be completed within the next three months.

A statutory profit on disposal of £23m was expected to be booked in Sage's accounts.

The sale proceeds would be invested for growth and used to reduce net debt, Sage said.

At 1:12pm: (LON:SGE) Sage Group The PLC share price was +2.9p at 594.9p

Story provided by StockMarketWire.com
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