Elavon completed the acquisition of Sage Pay for $300m.

Elavon, a global merchant acquirer and subsidiary of US Bank, completed the acquisition of Sage Pay, a payments gateway business of The Sage Group, a provider of cloud business management solutions, for $300m. The acquisition is part of Elavon’s strategy to help its business customers grow as the global economy becomes more digital, and as businesses look to streamline their operations with software that includes payments capabilities. This acquisition also extends Elavon’s market share in the UK and Ireland, particularly for small and medium-sized enterprises where Sage Pay is a highly-trusted payment gateway with a loyal customer base. “We are a customer-focused company that is helping businesses succeed in a global marketplace that is changing rapidly. This acquisition brings tremendous talent and leading technology to Elavon, which can be leveraged across the European market,” Hannah Fitzsimons, Elavon Merchant Services President and General Manager.