FTSE 100 accounting software group Sage has made yet another purchase after acquiring UK merchant services firm Protx for £20m.

Protx, which was established in 2001, provides online payment services for small and medium businesses in the UK, with a customer base of over 10,000 businesses.

The company is accredited with Lloyds TSB Cardnet, Bank of Scotland, Barclays Merchant Services, HSBC, Natwest Streamline, American Express, Diners Card, JCB, and Euroconex.

In its most recent financial year, Protx had revenues of £1.9m almost double (97% higher) than the £967,000 it earned during the previous financial year.

Sage Group chief executive Paul Walker said: 'The acquisition of Protx brings Sage the capability to integrate secure payment systems with our business management software. With Protx in the UK and Verus in the US, we continue our strategy to expand into new adjacent markets and broaden the range of services we can offer our SME customers.'

Further reading:

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