Enterprise software giant Sage has acquired the remaining stake in Brightpearl, originally a UK-based startup in cloud retail management, for $340m. Brightpearl provides a SaaS-based retail operating system, enabling real-time business insights.
Sage previously owned 17% of the Bristol, UK-based startup, which MMC Ventures, a UK Series A investor, backed in 2014. The startup had previously raised $15m in 2018 and $11m in 2016.
The consideration for the 83% of Brightpearl that Sage does not already own is $299m (£226m), which will be funded from Sage’s existing cash and available liquidity.
Brightpearl CEO Derek O’Carroll said: “Bringing our two teams together will help combine the retail strength of Brightpearl and the scale, brand and financial ex …
