Contact Information: Press Contacts: Renee Chenue Sage Payment Solutions Division (703) 852-5386 rchenue@sagepayments.com John Schoutsen Sage Software (905) 267-2873 john.schoutsen@sage.com
Bob Bennett Named President Sage Software Payment Solutions Division
Bill Wade Promoted to SPS Division Vice Chairman
| Source: Sage Software
MCLEAN, VA--(Marketwire - February 11, 2008) - Sage Software, the North American business of
the Sage Group, plc (London: SGE), announced today that Bob Bennett has
been named president of its Sage Payments Solutions (SPS) division. In this
position, Mr. Bennett will be responsible for executive management of all
of Sage Software's North American payment solutions business, including its
credit card operations based in Virginia and its check operations based in
Florida.
The company also announced that former SPS president, Bill Wade, is taking
on the new position of vice chairman of SPS. In this new role, Mr. Wade
will be responsible for business development, acquisition opportunities,
and expanding the reach of payment management services to regions around
the world where the Sage Group, plc operates.
In addition, Christian Fadel, formerly SPS senior vice president of
finance, has been named chief financial officer for SPS, reporting to Mr.
Bennett.
Mr. Bennett was most recently chief operating officer of SPS credit card
operations, and was president of Verus Card Services prior to the
acquisition of Verus Financial Management, Inc. by Sage Software in
February 2006. Prior to joining Verus, Mr. Bennett was president of MIC,
Inc., a leading systems integration company based in Arlington, VA. Before
MIC, Mr. Bennett was the founder and CEO of MicroFridge, Inc., an Inc. 500
award-winning company with primary markets of college, military,
hospitality and senior living environments.
Mr. Wade was most recently president of SPS. Prior to the acquisition of
Verus Financial Management by Sage Software, Mr. Wade served as executive
vice president, corporate secretary, and board member for Verus. He has
also served as chairman of the board of directors, CEO, and president of
Network 1 Financial (NET1), a payment processing company he co-founded in
1989. Through his banking relationships, Mr. Wade diversified NET1 into the
transaction-acquiring business in 1992 and led the company's expansion into
electronic funds transfer (EFT) and Internet gateway service products.
About Sage Payment Solutions
Sage Payment Solutions (SPS), formerly named Verus Financial Management,
has been making the process of accepting electronic payments easy for
businesses for more than 18 years. SPS helps businesses reach higher
revenues by accepting multiple forms of payment including credit and debit
cards, electronic checks, gift cards, and automatic recurring payments.
Sage Payment Solutions provides a wide range of merchant services
including: merchant accounts, equipment, processing solutions for retail,
mail order/telephone order (MOTO) and Internet businesses, and valuable
customer retention tools like loyalty cards, online reporting and financial
resources that ensure business growth. SPS, a division of Sage Software,
serves over 115,000 businesses. Please visit www.sagepayments.com for more
information.
About Sage Software
Sage Software supports the needs, challenges and dreams of more than 2.8
million small and medium-sized business customers in North America through
easy-to-use, scalable and customizable software and services. Our products
support accounting, operations, customer relationship management, human
resources, time tracking, merchant services and the specialized needs of
the construction, distribution, healthcare, manufacturing, nonprofit and
real estate industries. Sage Software is a subsidiary of The Sage Group
plc, a leading global supplier of business management software and services
to small and medium-sized businesses. Formed in 1981, Sage was floated on
the London Stock Exchange in 1989. Sage Group now has 5.5 million customers
and employs over 13,900 people worldwide. For more information, please
visit the web site at www.sagesoftware.com or call (866) 308-2378.