The move represents an effort to divest itself of non-core solutions.
The Sage Group today announced plans to sell seven non-core products, including its ACT! and SalesLogix products, for a total of roughly $145 million.
The deals involve three products managed from North America (Sage ACT!, Sage SalesLogix, and the Sage Nonprofit Solutions product suite), and four product suites in Europe (C&I, ATL, Automotive, and Aytos). The company identified all of these products as not core to its central business portfolio.
Read the story… | Source: Destination CRM | Date posted: 2/18/2013
Here is the press release from Swiftpage:
Swiftpage to Acquire Sage ACT! and Sage SalesLogix Businesses
Company Raises Significant Capital to Fund Acquisition and Fuel Growth, Global Expansion
February 15, 2013
Swiftpage, provider of the leading digital marketing platform for small business, announced it has reached an agreement with The Sage Group plc to acquire the Sage ACT! contact management and Sage SalesLogix customer relationship management (CRM) businesses. To finance the acquisition and to fund future growth and expansion, Swiftpage has raised significant capital from a group of partners that includes Sage and technology-focused private equity investment firm Accel-KKR.
Swiftpage President and CEO H. John Oechsle said the acquisition and new funding will accelerate the company’s strategy to deliver its digital marketing platform to small and medium-sized businesses worldwide. “Sage’s products are great complements to our own email marketing, social media marketing and contact management platform. Now, with direct access to these established CRM products, and with more technology and more resources, we’ll be in the strongest position to help our partners and customers deliver the tools that convert prospects, retain customers, and promote growth.”
The acquisition and investment are key turning points for Swiftpage, which started in 2001 as a software and services provider to small businesses. Their strategy led Swiftpage to become a Sage development partner; later, they offered integrated, white label email and social media marketing solutions for Sage ACT! and Sage SalesLogix. Oechsle said the acquisition is an important next step, one that gives Sage ACT! and Sage SalesLogix customers a familiar and like-minded partner focused on making small and medium-sized business successful. “We’ll be able to deliver everything from contact management solutions for those just getting started to SalesLogix for medium-sized businesses, so we’re with them every step of the way.”
Tom Barnds, Managing Director of Accel-KKR, said the firm made its investment decision based on Swiftpage’s demonstrated track record as an innovative, product-focused company. “We are very pleased to partner with Swiftpage to help the company achieve its vision of delivering the best in next generation products to customers around the world.”
About Swiftpage
Swiftpage’s digital marketing platform helps small businesses grow. Its email marketing, social media marketing, and contact management solutions empower them to convert prospects, retain customers and expand their businesses. Swiftpage delivers the platform as a white label solution to partners who provide digital services to small business end users. For more information visit http://swiftpage.com.
About Sage
The Sage Group plc is a leading global provider of business management software to small and medium sized companies, creating greater freedom for them to succeed. Sage understands how and why each business is unique. We provide products and services that suit varying needs, are a pleasure to use and are secure and efficient. Formed in 1981, Sage was floated on the London Stock Exchange in 1989 and entered the FTSE 100 in 1999. Sage has over 6 million customers and more than 13,500 employees in 24 countries covering the UK & Ireland, mainland Europe, North America, South Africa, Australia, Asia and Brazil. For further information please visit www.sage.com.
About Accel-KKR
Accel-KKR is a technology-focused private equity firm with over $2.3 billion in assets under management. The firm invests primarily in software and IT-enabled businesses well positioned for top-line and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle market companies and provides a broad range of capital solutions from minority growth investments to buyouts, recapitalizations, divisional carveouts and going-private transactions. For more information, please visit www.accel-kkr.com.
