Accounting software provider Sage Group PLC (LON:SGE) has revealed it is evaluating strategic options for its North American payments business, including a possible sale.
However, in a brief statement responding to recent media speculation, Sage said there can be no certainty that the move will lead to any deal.
Back in June, in the wake of Microsoft’s planned US26.2bn tie-up with LinkedIn, speculation emerged over more tech-sector consolidation, with FTSE 250-listed Sage seen as a player.
Market gossips were then tipping the accountancy software firm to be among those eyeing US firm Netsuite, which develops business management software systems.
However, Netsuite’s 40% shareholder US giant Oracle stymied such talk at the end of July by launching a US$9.3bn full takeover bid for the US firm.
Sage chief executive Stephen Kelly has been pushing through organisational and product changes, to focus 87% of the group’s research and development spending on core growth products.
The shake-up also plans to save at least £50mln a year by the end of its 2016 financial year.
At the end of November, Sage reported annual revenues and earnings which were slightly higher than forecast as it implemented the first phase of its growth strategy.
For the year ended 30 September, the firm’s revenue was £1.57bn, up 9.3% compared to last year, and just ahead of the consensus analyst forecast of £1.56bn.
Kelly said then: "Phase one of the transformation programme has been successfully delivered.
“For phase two we have ensured that we have the core management team, processes and culture to deliver the best technology ecosystem for our customers - those business builders that drive the world's economy, creating jobs, growth and prosperity.”