Sage Group PLC (LON:SGE) said it has entered into an agreement for the sale of its Asian, Australian businesses to business software firm The Access Group.
The sale consideration is approximately £95mln to be paid on completion, which is expected over the next six months after the Australian Foreign Investment Review Board issues approval.
READ: Sage Group inks deal for sale of Polish business
In the year to September 30, 2020, the businesses to be sold achieved revenue of £48mln, flat on 2019, and operating profit of £6mln, up from £5mln the year before.
Sage is retaining its global products that are core to its growth strategy including Sage Intacct, Sage People and Sage X3.
Earlier this month, the FTSE 100 software firm entered an agreement to sell its Polish business to private equity firm Mid Europa Partners for £66mln.
The sales follow similar disposals of the company’s Brazilian and Sage Pay businesses in March, while it is also looking for buyers for its Swiss arm as well as its South African payroll outsourcing business.