Sage snaps up payment processing provider

LONDON (ShareCast) - Business software group Sage has announced that through its subsidiary Sage Pay Europe it has acquired Integral Computers, a cardholder present payment processing provider based in Ireland (Xetra: A0Q8L3 - news) for a cash consideration of up to €20m (£16.7m). Integral provides services to retailers that have either standalone or integrated Electronic Point of Sale payments requirements. Its (Euronext: ALITS.NX - news) platform has processed over 100m transactions in the last 12 months, with a value of €6bn. Following the acquisition, Integral will be rebranded Sage Pay and will be fully integrated into the Sage Pay business. Sage Chief Executive Officer Guy Berruyer said: "The Integral business is highly complementary to our business and marks Sage Pay's entry into the cardholder present market in the UK and Ireland. "The acquisition broadens Sage Pay's customer offering, significantly extends Sage Pay's addressable market, offers attractive integration and cross-sell opportunities for Sage and is the type of acquisition which increases our exposure to higher growth segments." The share price rose 0.16% to 303.7p by 13:26. NR