Sage, the UK’s largest software firm has taken a 20.7% share in UK cloud software Fairsail for £10m.
Fairsail, which builds Human Capital Management software on the Salesforce Force1 platform said it would provide growth capital for expansion. Fairsail has revenue growth of 120% to £5.6m in 2015.
Fairsail will become the cloud HCM platform of choice to accompany Sage’s X3 Business Management Solution.
In a conference call Adam Hale, Fairsail, CEO, said: "We are thrilled about this partnership and working closely with Sage and building on our close partnership with Sage X3. And we’ll continue to rapidly scale up."
Fairsail is built on the Salesforce Force platform and includes Betfair and Skyscanner as customers. Sage will implement Fairsail’s Human Capital Management solution to run its HR for its 13,000 staff.
Mr Hale said the integration with Sage X3 involved a deep joint development commitment and said ‘this is not just go to market. In terms of resources and how to address it we’re mobilising a joint developing team. Integration is something we do all day and every day."
Alan Laing, EVP Alliances at Sage said, "This [today’s announcement] is all about the why and what we’ll do there will be more on the how."
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Sage X3 and Fairsail products will work together to provide companies with better processes to manage financials, supply chain, payroll, workforce and talent management, in the cloud.
This will be available to customers in the U.K. and U.S. initially, with further global roll out to follow.
Alan Laing, EVP of partnerships and alliances said "As part of our ever expanding network of partnerships and alliances, we are very excited to further develop our relationship with Fairsail. We are committed to providing customers with the solutions they need to compete and grow in today’s global, digital economy. This complementary powerhouse of business management and HCM solutions will enable our customers to gain a competitive advantage."
Sage reported interim FY16 results of recurring revenue growth of 10% for the first time this decade, with a 50% increase in the
number of software subscriptions to 842,000. The results showed overall organic revenue growth of 6.2%.
