8th Jul 2015 07:49
LONDON (Alliance News) - FTSE 100 outsourcer Capita PLC on Wednesday said it has struck a deal to acquire property consultancy GL Hearn for up to GBP30 million.
Capita will pay an initial cash consideration of GBP25 million for the company, plus a further deferred consideration of GBP5 million based on it meeting growth targets.
"GL Hearn will be a transformative addition to Capita's property and infrastructure business. Beyond extending and enhancing our existing real estate offer, GL Hearn's track record and range of expertise will allow us to provide market-leading commercial, technical and strategic advice across the entire development process," said Capita Chief Executive Andy Parker.
Shares in Capita were up 0.2% to 1,255.00 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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