The payments division of Sage Group Plc is being acquired by Evalon, a subsidiary of Bancorp.
In Brief:
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Evalon is a global merchant acquirer.
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It aims to expand its business in the UK and Ireland.
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Sage Pay is the payments gateway of Sage Group, a market leader in cloud business management solutions, and has an operating profit of £15mn.
What does this mean?
With about 50,000 SME customers, Sage Pay will be a means for Evalon to enable its business customers to grow in a digital global economy.
