NEWS
UK’s Capita surges about 23% on sale of software business
Published On :
UK’s Capita surges about 23% on sale of software business
(Reuters) -Shares in Capita jumped nearly 23% in early trading on Tuesday after the British outsourcing firm agreed to sell its standalone software business Capita One to a unit of MRI Software in a deal worth 200 million pounds ($256 million).
Capita said it expects to get a cash dividend of 4.8 million pounds from Capita One before the sale, which comes after the company evaluated its non-core assets since last month.
Capita One provides software solutions across the UK public sector, while MRI Software is in the real estate software business.
Capita expects potential gross cash proceeds of about 207 million pounds from the sale, which is expected to be completed towards the end of August.
The company’s stock hit its highest level in more than four months and was the top percentage gainer on the FTSE Small Cap index. ($1 = 0.7807 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Rashmi Aich and Savio D’Souza)
Uma Rajagopal has been managing the posting of content for multiple platforms since 2021, including Global Banking & Finance Review, Asset Digest, Biz Dispatch, Blockchain Tribune, Business Express, Brands Journal, Companies Digest, Economy Standard, Entrepreneur Tribune, Finance Digest, Fintech Herald, Global Islamic Finance Magazine, International Releases, Online World News, Luxury Adviser, Palmbay Herald, Startup Observer, Technology Dispatch, Trading Herald, and Wealth Tribune. Her role ensures that content is published accurately and efficiently across these diverse publications.
-
-
Uncategorized3 days ago
Swedish government commission recommends easing mortgage repayment rules
-
-
-
NEWS3 days ago
Ryanair H1 profit falls 18% on lower fares, but price weakness moderating
-
-
-
NEWS3 days ago
German companies’ hiring plans drop to four-year low, Ifo finds
-
-
-
BUSINESS3 days ago
Burberry shares jump on Moncler bid report
-