Accounting and business software provider The Sage Group PLC announced that it will acquire cloud-based retail management system developer Brightpearl.
The acquisition is particularly expected to broaden the appeal of Sage Intacct, the company’s flagship cloud-based accounting software, to retailers and wholesalers. The combination will create a solution that integrates financial management, inventory planning, sales order management, purchasing and supplier management, CRM, fulfilment, warehousing and logistics management.
“Sage’s purpose is to knock down barriers so everyone can thrive,” said Sage CEO Steve Hare, in a statement. “Together, Sage and Brightpearl will remove the barriers that hold back retailers and wholesalers, streamlining their systems and enabling them to focus on growth.”
Sage already has a 17% stake in Brightpearl; it will pay $299 million for the remainder. The deal is expected to be completed in January 2022.
With operations in the U.S. and the United Kingdom, Brightpearl is expected to generate revenues of $27 million in 2021, representing 50% growth over the past year.
