Sage Pay is one of the bigger payment processors in the UK and Ireland serving small and medium businesses. Elavon is active in 10 countries and says it’s the fourth-largest merchant acquirer in Europe, competing against the likes of Vantiv, FIS, Ingenico, Stripe, Global Payments, etc. The deal is still subject to regulatory approval (both by the Federal Reserve in the US and the Central Bank of Ireland).
“Our vision of becoming a great SaaS company for customers and colleagues alike means we will continue to focus on serving small and medium sized customers with subscription software solutions for Accounting & Financials and People & Payroll,” said Steve Hare, Sage’s CEO, in a statement. “Payments and banking services remain an integral part of Sage’s value proposition and we will deliver them through our growing network of partnerships, including Elavon.”