24th Dec 2021 07:37
(Alliance News) - Capita PLC on Friday said it has sold its software business, AMT Sybex, to Jonas Computing Ltd for up to GBP40 million.
The London-based business process outsourcing and professional services company said Jonas Computing will pay GBP23 million on completion in January. An additional amount of up to GBP17 million may be payable to Capita over 24 months subject to conditions.
The sale is part of Capita's intention to strengthen its balance sheet and focus on its two core divisions, Capita Public Service and Capita Experience, it said.
Capita said the sale of AMT Sybex brings the total proceeds of its 2021 disposals to at least GBP643 million. The company added that it will continue to target GBP700 million in non-core disposal proceeds by June.
AMT Sybex provides software that facilitates efficient and reliable energy provision by balancing supply and demand, Capita explained. In 2020, AMT Synbex reported a pretax profit of GBP12 million and revenue of GBP40 million.
By Heather Rydings; [email protected]
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