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Business & Economy

Sage Group reveals £225 million Brightpearl deal

A software firm has vowed to continue “knocking down barriers so everyone can thrive” after agreeing a £225 million takeover.

Newcastle-based Sage Group is to acquire Brightpearl.

Bosses say the deal for Brightpearl, a multichannel retail management system, will complement Sage’s existing Intacct accounting software.

Once united, they say it will deliver a “powerful solution for retailers and wholesalers which integrates financial management, inventory planning, sales order management, purchasing and supplier management (and) warehousing and logistics management”.

Steve Hare, Sage chief executive, said: “Our purpose is to knock down barriers so everyone can thrive.

“Together, Sage and Brightpearl will remove the barriers that hold back retailers and wholesalers, streamlining their systems and enabling them to focus on growth.”

Derek O’Carroll, Brightpearl chief executive, added: “We are thrilled to be joining Sage.

“Bringing our two teams together will combine the retail strength of Brightpearl and the scale, brand and financial expertise of Sage.”