M&A Deal Summary

Sage Acquires Verus Financial Management

On January 9, 2006, Sage acquired business services company Verus Financial Management from FTV Capital for 184M GBP

Acquisition Highlights
  • This is Sage’s 1st transaction in the Business Services sector.
  • This is Sage’s 5th largest (disclosed) transaction.
  • This is Sage’s 7th transaction in the United States.
  • This is Sage’s 1st transaction in Tennessee.

M&A Deal Summary
Date 2006-01-09
Target Verus Financial Management
Sector Business Services
Buyer(s) Sage
Sellers(s) FTV Capital
Deal Type Add-on Acquisition
Deal Value 184M GBP

Target

Verus Financial Management

Nashville, Tennessee, United States
Verus Financial Management, Inc. is a merchant services business specialising in credit card and cheque processing for small and medium-sized businesses (”SMEs”) based in the US in Nashville, Tennessee. Merchant services support retail, business to business and e-commerce businesses in processing customer transactions through credit cards, debit cards and cheques. Verus has a customer base of 101,000 small and medium-sized merchants in the US, including speciality retailers, petrol stations, restaurants, property managers and motor dealerships.

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Buyer(S) 1

Buyer

Sage

Newcastle upon Tyne, United Kingdom
Category Company
Founded 1981
Sector Software
Employees11,647
Revenue 2.2B GBP (2023)
DESCRIPTION
Sage office in Reston, Virginia.
Sage office in Reston, Virginia.

Sage provides business management software and services for small and medium-sized businesses. Sage was founded in 1981 and is based in Newcastle upon Tyne, the United Kingdom.

DEAL STATS #
Overall 9 of 35
Sector (Business Services) 1 of 1
Type (Add-on Acquisition) 8 of 29
State (Tennessee) 1 of 1
Country (United States) 7 of 13
Year (2006) 1 of 7
Size (of disclosed) 5 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-01 Salvia Développement SAS

Paris, France

Salvia Développement SAS is a provider of business management software for social landlords, local authorities and developers. Salvia Développement was founded in 1986 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-23 UBS Berhad

Kuala Lumpur, Malaysia

UBS Corporation Berhad is a vendor of business management software for small and medium-sized businesses in Malaysia, With over 100,000 customers.

Buy -

Seller(S) 1

SELLER

FTV Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1998
PE ASSETS 6.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

FTV Capital is a multi-stage private equity firm focused on providing capital to high-growth companies. FTV generally seeks to invest in software, business services, and financial services companies which enable financial institutions to expand and to operate more efficiently. Investment proceeds are typically used to fund rapid organic growth, provide shareholder liquidity, pursue add-on acquisitions, or acquire divestitures. FTV prefers to act as the lead or control investor and targets equity commitments of $10 to $85 million per transaction. FTV Capital was established in 1998 and was formerly known as FTVentures. FTV Capital is based in San Francisco with an additional office in New York City.

DEAL STATS #
Overall 5 of 61
Sector (Business Services) 1 of 6
Type (Add-on Acquisition) 3 of 38
State (Tennessee) 1 of 2
Country (United States) 5 of 54
Year (2006) 1 of 4
Size (of disclosed) 4 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-09-19 Freeborders

San Francisco, California, United States

Provides IT and software application outsourcing services through a hybrid onshore-offshore delivery model with its primary development operations based in Shenzhen, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-23 Invesco PowerShares Capital Management

Wheaton, Illinois, United States

PowerShares Capital Management, LLC is an asset management firm headquartered in Wheaton, IL. PowerShares is the advisor and sponsor of PowerShares XTF, a family of ETFs. PowerShares Capital Management LLC seeks to provide compelling investment tools and portfolios for advisors and investors. PowerShares is committed to theoretically sound portfolio construction and empirically verifiable investment management approaches. Its asset management philosophy and investment discipline is deeply rooted in the application of intuitive factor analysis and model implementation to enhance investment decisions.

Sell $60M
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