24th May 2018 13:42
LONDON (Alliance News) - Cyber security firm NCC Group PLC said Thursday it sold its software testing business to QualiTest Group for GBP3.6 million in cash.
QualiTest - a portfolio firm of Marlin Equity Partners - will acquire the business on a cash and debt free basis.
NCC decided to sell its software testing business after a strategic review in July 2017. The unit - as well as its web performance business - was deemed to have "little strategic overlap" with its core cyber security operations.
The web performance business was sold in March for GBP7.5 million.
The proceeds will be used to reduce its debt. The sale is expected to have an immaterial impact on full year results. NCC will report results for the year ending next Thursday on July 17.
Shares in NCC were 0.8% higher at 211.60 pence on Thursday.
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