30th Jun 2015 08:03
LONDON (Alliance News) - FTSE 100-listed outsourcer Capita PLC on Tuesday said it has struck a deal to acquire Vertex Mortgage Services Ltd for GBP35 million, subject to regulatory approval.
Capita said the deal will strengthen its position in the third-party mortgage administration market, building on last year's acquisition of Crown Mortgage Services Ltd.
"As part of our strategy to support the financial services industry, Capita's ambition is to become the
mortgage processing partner of choice for existing mortgage providers and challenger banks," said Andy Parker, Capita's chief executive.
"The acquisition of Vertex MS is another key step towards achieving this goal. This is a market facing continuous regulatory change and changing customer behaviours, and with Capita's breadth of services and expertise we are well placed to help organisations with these challenges. This market therefore offers significant growth potential for Capita," Parker added.
Capita shares were down 0.9% to 1,236.00 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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