Sage sells North American payments business

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MarketWatch:

Financial software services provider Sage Group PLC (SGE.LN) said Friday that it has reached an agreement to sell its North American payments business unit to private equity firm GTCR LLC for $260 million. The sale consideration includes a $240 million cash payment on completion and $20 million as deferred consideration. Sage intends to use the proceeds to reduce debt and invest in business growth.

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