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Sage sells and Kingspan worries but its share price stays pretty hot...

By Chris Bailey | Monday 18 November 2019


Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


First for the new week, a quick update on one of my stocks of the year Sage (SGE) which confirmed today that it had completed the sale of its Sage Pay unit to Elavon for £232 million or around about fifteen times operating profit. The company noted that 'our vision of becoming a great SaaS company for customers and colleagues alike means we will continue to focus on serving small and medium sized customers with subscription software solutions for Accounting & Financials and People & Payroll', hence why it prefers to sell the payments unit and strike a continuing joint venture with Elavon too...

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