Personal Group inks five-year contract extension with Sage

Employee benefits and services provider Personal Group has inked a new five-year contract extension with Sage that will see its software platform continue to roll out to millions of Sage's small and mid-sized customers.

Personal Group said on Monday that the new contract builds on the success of the pair's partnership over the past year and will see the two companies continue to their SEB platform proposition to more customers.

The AIM-listed firm stated the extension of the relationship with Sage was an example of the "continued execution and delivery" of its growth strategy, extending its influence across multiple channels and markets.

Chief executive Deborah Frost said: "Sage has an extensive SMB customer base and through our partnership with SEB we are now able to reach a significant number of smaller companies in the UK.

"The size of the market opportunity and the fact, to date, we have only scratched the surface in terms of the potential opportunity is incredibly exciting for Personal Group and we look forward to working with SEB to further develop and capitalise on our relationship for the mutual benefit of both parties."

As of 0950 GMT, Personal Group shares were down 1.11% at 357.0p.