5th Feb 2016 08:04
LONDON (Alliance News) - Regenersis PLC on Friday said it plans to return GBP50.0 million to shareholders in the second quarter of 2016, after striking a deal to sell its repair services business to CTDI Repair Services Ltd for EUR103.5 million.
The sale of the repair services arm will leave Regenersis as a "pure play global software business" comprising of Blancco, SafeIT, Xcaliber and Tabernus. Regenersis plans on changing its name to Blancco Technology Group PLC.
Executive Chairman Matthew Peacock said he is confident the deal represents "good value" for shareholders, and puts the company in position to grow its software business.
"In line with the company's strategy to position Regenersis as a pure play software asset, the conditional disposal of the repair services business announced today is the outcome of a structured and competitive process, against a background of solid continued financial performance," Peacock said.
Separately, the company said it is looking to sell its digital care business.
By Samuel Agini; [email protected]; @samuelagini
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