News
Sage Acquires ‘Intacct’, Cloud Financial Management Solutions

The Sage Group plc (“Sage”), has announced that it has agreed to acquire Intacct Corporation (“Intacct”), a leading provider of cloud Financial Management Solutions in North America.
The total consideration is $850m (£654m1) to be paid in cash and rolled over Sage options.
Intacct is headquartered in San Jose, California, and serves thousands of businesses in the North American scale-up and enterprise markets4, both directly and through a network of partners. Intacct provides sophisticated and powerful cloud Financial Management Solutions targeted at growing businesses looking for rich financial and operational insight, process automation, seamless integration with their existing software, advanced features and a modern user experience.
The company has a three-year revenue CAGR in excess of 33%5, with current annualised recurring revenues of $96m (£74m)6 and revenues in the twelve months to June 2017 of $88m (£68m)7, over 90% of which is subscription based.
Intacct was recently named a Visionary by Gartner in its inaugural Magic Quadrant for Cloud Financial Management Suites for Mid-Size, Large and Global Enterprises (June 2017).
Intacct’s CEO, Robert Reid, leads an experienced management team with a demonstrated track record of scaling at pace, who will remain to run the business, thereby ensuring continuity for customers, partners and employees.
Sage management reconfirms current guidance as detailed in Sage’s Q3 trading update for the full year of at least 6% organic revenue growth including the contribution from North American Payments through to completion of the disposal and an underlying operating margin of at least 27%. For the avoidance of doubt the underlying operating margin guidance includes any investments in Sage Intacct, Sage People and Compass.
In addition to organic revenue we expect Intacct (to be known as Sage Intacct after completion), Sage People (Fairsail) and Compass to add approximately £20m of revenue in this financial year.8 Following completion of the transaction, the pro-forma net debt to EBITDA leverage ratio will remain in the previously communicated range of 1 – 2x. The transaction is expected to complete within weeks, subject to customary completion conditions.
Strategic Rationale
The acquisition demonstrates Sage’s strong affirmation to winning in the cloud, winning in the US and accelerates the strategy underpinned by Sage’s five strategic pillars.
As customer demand moves to the cloud and away from traditional monolithic ERP suites, the acquisition strengthens Sage’s position as providing the first and last cloud Financial Management Solution a customer will ever need from start-up to global enterprise, whilst integrating seamlessly with their other enterprise applications.
Sage partners will now be able to grow their own businesses fully in the cloud with Sage. In the short term it provides Sage further platform for growth, with medium term aspirations for geographical expansion.
Finally, the combination of Sage and Intacct’s existing product portfolio, brand, resources and partners, will put Sage in prime position to establish itself as the leading provider of cloud Financial Management Solutions in North America in our chosen segments.
Commenting on the acquisition, Stephen Kelly, CEO of Sage, said: “Today we take another major step forward in delivering our strategy and we are thrilled to welcome Intacct into the Sage family. The acquisition of Intacct supports our ambitions for accelerating growth by winning new customers at scale and builds on our other cloud-first acquisitions, strengthening the Sage Business Cloud. Intacct opens up huge opportunities in the North American market, representing over half of our total addressable market.”
Robert Reid, CEO of Intacct, added: “We are excited to become part of Sage because we are relentlessly focussed on the same goal – to deliver the most innovative cloud solutions for our customers. Intacct is growing rapidly in our market and we are proud to be a recognised customer satisfaction leader across Midsize, Large and Global Enterprise businesses. By combining our strengths with those of Sage, we can jointly accelerate success for our customers.”
Evercore acted as financial advisor to Sage. Sage also received financial and corporate broking advice from Citigroup Global Markets Limited. Skadden, Arps, Slate, Meagher & Flom LLP served as legal advisor to Sage.
Morgan Stanley & Co. LLC. acted as financial advisor and Fenwick & West LLP served as legal advisor to Intacct.
This announcement contains inside information. The person responsible for arranging for the release of this announcement on behalf of Sage is Lauren Wholley.
News
REA, NBS Partner to Deliver Comprehensive Energy Data for Nigeria

The Rural Electrification Agency (REA) and the National Bureau of Statistics (NBS) have signed a Memorandum of Understanding (MoU) to conduct a nationwide energy survey aimed at closing long-standing data gaps in Nigeria’s power sector. The initiative is expected to guide policy, attract investment, and accelerate universal electricity access.

Signed in Abuja, the agreement establishes a National Energy Survey based on the Multi-Tier Tracking Framework (MTF), a globally recognized methodology that measures electricity access not only by grid connection but also by quality, affordability, reliability, and usage of electricity and clean cooking solutions.
The survey will be implemented under the Energy Sector Management Assistance Program (ESMAP) of the World Bank. Dr. Abba Aliyu, REA Managing Director/CEO, said the partnership underscores REA’s commitment to evidence-based rural electrification planning and will generate detailed insights on electricity access and off-grid solutions nationwide.
Prince Adeyemi Adeniran, Statistician-General of the Federation/CEO of NBS, emphasized that reliable statistics are essential for effective policymaking, assuring that NBS will provide technical oversight, sampling expertise, and quality assurance to meet global standards.
The survey will assess energy access, household affordability, expenditure patterns, and the adoption of off-grid technologies such as solar home systems, mini-grids, and clean cooking solutions. REA will provide sector expertise and policy alignment, while NBS manages regulatory approvals, methodology, and technical supervision.
Funded and technically overseen by the World Bank, the exercise will run for 18 months, with the resulting data expected to improve national energy planning, programme targeting, and private sector investment, particularly in underserved and rural communities.
Officials said the collaboration reflects the Federal Government’s commitment to strengthening inter-agency coordination, enhancing energy data availability, and advancing Nigeria’s goal of universal electricity and clean cooking access.
News
SiBAN New Executive Council to Champion Vision for Nigeria’s Digital Economy

The Stakeholders in Blockchain Technology Association of Nigeria (SiBAN), the nation’s foremost self-regulatory body for the blockchain industry, has completed its election cycle, heralding the beginning of a new executive council dedicated to scaling Nigeria’s digital economy.

The highly anticipated elections concluded recently with the emergence of a new leadership team poised to champion industry standards, foster innovation, and drive widespread adoption of blockchain technology across the country.
The newly elected executives, who will officially assume their roles in January 2026, represent a blend of legal, financial, and technical expertise critical for navigating the evolving regulatory landscape.
Leading the charge is Mela Claude-Ake, a lawyer, who has been elected the President of SiBAN to succeed the outgoing President, Obinna Iwuno, whose tenure was marked by significant achievements, including facilitating crucial reforms and forging strategic partnerships with regulators and other critical stakeholders in the digital asset industry. Mr. Iwuno will formally hand over the reins to the new council in January 2026.
Other elected to the executive council are Chimene Chinah – Vice President 1, in charge of Blockchain education and adoption; Oroke Cornelius – Vice President 2, in charge of membership, strategic partnerships, and funding; and Ayo Shonibare – Vice President 3, in charge of policy, regulation, and ethics.
Others are Ugochukwu Peters – Vice President 4 in charge of digital asset operations and capital markets, Mbene Vivian – Chief strategy officer in charge of projects and incubation, Olufunmilayo Tugbobo as Financial Secretary/Chief Financial Officer, and Chiemeka David Ohajionu as Chief Communications Officer.
The newly elected council’s structure reflects SiBAN’s commitment to addressing key pillars of the blockchain ecosystem: from grassroots education and fostering innovation through projects, to establishing robust regulatory frameworks.
In his acceptance speech, Mela Claude-Ake emphasized the vital role SiBAN plays in shaping the future of finance and technology in Nigeria.
“The trust placed in this new council is not one we take lightly. We inherit a great foundation built by the outgoing team. Our mission now is to accelerate. We stand at a critical juncture where the potential of blockchain to revolutionize every sector, from finance and governance to supply chain, is undeniable. This new council will focus relentlessly on advancing smart, collaborative regulation, democratizing blockchain education, and protecting the interests of all stakeholders to ensure that Nigeria remains a leader in the African digital economy space,” he assured.
He added that he is humbled by the opportunity to be the face of one of Nigeria’s youngest and most promising sectors — blockchain tech.
“As a tech enthusiast I am excited at the possibilities. The ecosystem needs careful nurturing by the government. My administration will be focused on building new bridges for the blockchain sector internationally and domestically, establishing trust with the public and unifying the sector. I enjoin all blockchain stakeholders in Nigeria, connected to Nigeria or of nigerian heritage to join hands together with my administration in building the industry of our dreams.”
The industry now looks forward to the handover ceremony in January 2026 and the initiatives the new SiBAN leadership will unveil to solidify the association’s role as a catalyst for innovation and a respected partner to the Nigerian government.
News
APC National Chairman Appoints Mr. Abimbola Tooki as Special Adviser on Media

The National Chairman of the All Progressives Congress (APC) has approved the appointment of Mr. Abimbola Tooki as Special Adviser on Media and Communication Strategy.

Mr. Abimbola Tooki
The appointment reflects the Chairman’s confidence in Mr. Tooki’s vast experience, professional pedigree, and proven capacity to deploy strategic communication in strengthening party cohesion, public engagement, and effective message delivery at both national and international levels.
Mr. Tooki is a celebrated journalist, columnist, and media strategist with deep expertise in governance reporting, crisis communication, information management, and team leadership.
He is widely regarded for his ability to bring institutions closer to the people through the effective use of conventional and digital media platforms.
His career demonstrates a consistent track record of innovation, results-oriented leadership, and excellence in managing internal and external communications.
A versatile Information and Communications Technology (ICT) editor for many years, Mr. Tooki managed and developed influential ICT and business sections in leading newspapers, contributing significantly to public understanding of technology and economic issues.
He also pioneered major newsroom initiatives, including the establishment of specialised ICT publications, and is respected for his sharp analytical skills and solution-driven approach in fast-paced environments.
His professional journey spans several reputable media organisations, culminating in his role as Editor of BusinessWorld Newspaper, where he oversees editorial direction, production, administration, and corporate management.
He previously rose through the ranks at Financial Standard, earning rapid promotions due to exceptional performance, intellectual depth, and dedication to duty.
Mr. Tooki is also a familiar face and respected voice in broadcast media, serving over the years as a guest analyst on platforms such as Channels Television and other national stations, where he analyses major headlines, public policy, and issues of national importance.
Academically, he holds an MBA from Obafemi Awolowo University, a Postgraduate Diploma in Journalism from the Nigerian Institute of Journalism, and a Bachelor’s degree in Language Arts from the University of Ilorin.
In his new role, Mr. Tooki is expected to provide strategic direction for the Chairman’s media engagement, strengthen the APC’s communication architecture, manage reputation and messaging, and enhance the party’s interface with stakeholders, the press, and the Nigerian public.
The APC congratulates Mr. Abimbola Tooki on his appointment and wishes him success as he brings his wealth of experience, energy, and professionalism to bear in support of the Chairman and the party at large
E-Financial3 days agoSupreme Court Clears Fidelity Bank in ₦225bn Sagecom Saga
E-Financial3 days agoPreventing Financial Crimes Amid Mounting Insecurity: Why Following the Money is Now a Survival Imperative
E-Financial3 days agoUnion Bank Clinches Top Workplace Practice Honour at Sustainability Awards
News2 days agoSiBAN New Executive Council to Champion Vision for Nigeria’s Digital Economy
Broadcasting2 days agoDavido, Babajide Sanwo-Olu, Karl Toriola, Others To Be Honoured At The Most Influential People of African Descent Awards In Lagos
E-Financial2 days agoTax Reform or Financial Exclusion? The Trouble with Mandatory TINs
General News2 days agoNITDA DG Calls for Innovation-Led Economic Rebirth @ Kano Startup Weekend
Telecom2 days agoNCC Blames NOGASA for Abuja Outage













