Sage this week added online payment services provider Protx to its portfolio in a 20 million deal.
Protx provides payment services for around 10,000 small and medium-sized UK busiensses and is approved to handle secure online transactions by major UK banks including Lloyds TSB Cardnet, Bank of Scotland, Barclays Merchant Services, HSBC, Natwest Streamline, American Express, Diners Card, JCB and Euroconex.
The UK company's acquisition closely mirrors a similar deal in January, when the company bought US credit card merchant services provider Verus Financial Management for 184m.
While Protx made a 20,000 loss on its last full financial year to 31 March 2006, it moved into profit over the next six months. Sage executives see merchant services as a new commercial frontier and the Protx news annou...