Brightpearl

Brightpearl is a developer of a cloud ERP system for retail. Technology for retail operations, according to the manufacturer's website, combines several channels into a single platform, providing a shopping process for customers in different countries and in different currencies.

History

2021: Sage Group bought 83% of Brightpearl for $299 million

On December 20, 2021, the British Sage Group announced the acquisition of 83% of Brightpearl for $299 million and thereby brought to 100% its stake in this developer of the ERP system for retailers. It is planned to close the deal in January 2022.

The merger of our two teams will help combine Brightpearl's strength in retail with Sage's large-scale business, brand and financial expertise, "said Brightpearl Chief Executive Officer Derek O'Carroll.

Sage Group acquired 83% of Brightpearl for $299 million

Brightpearl claims that the ERP system developed by the company for retailers, distributors, online stores and wholesalers provides the following advantages:

• Consolidates transactional and financial information. Management personnel, front and back office can quickly access data from each store, online channel and supply chain through a single reporting tool;
• reduces the number of inaccurate reports. Complete, end-to-end system integration from cash terminals to purchase orders. Real-time reporting on request;
• improves customer satisfaction. Automated systems minimize resale, handle returns, reduce vendor disputes, and manage purchases based on accurate inventory and nominal levels.

At the end of 2021, Brightpearl's 50 percent revenue growth is expected, as well as the company's entry into operating profit.

After the announcement of the buyback of the entire Brightpearl, Sage Group shares rose in price. From the beginning of January to December 20, 2021, the quotation rate of the British company rose by about 40%, notes. Reuters^[1]

Notes