Epicor to Sell Platinum Line to Sage Software

Epicor Software Corp. said it will sell its Platinum for Windows line of business management software to Sage Software Inc. for $7 million in cash. As a result of the sale, Irvine-based Epicor will cut its revenue estimates by about $2 million per quarter this year, Chief Executive George Klaus said. The company expects to achieve profitability in the final three months of 2001, he said. The company lost $40.7 million, or 98 cents a share, last year on revenue of $219.8 million.

Epicor said the deal will enable it to shed a nonstrategic product line. Sage Software, also based in Irvine, is a unit of Britain’s Sage Group. Epicor shares rose 15 cents to close at $1.59 on Nasdaq.