(Sharecast News) - Data and analytics company Ascential has agreed to sell its Glenigan brand to Byggfakta Group for £72.9m in cash.
Ascential said the nature of Glenigan's business was no longer aligned with its strategic priorities and stated the disposal would allow capital to be allocated to core areas, most notably its fast-growing digital commerce segment.
Completion was expected to take place in the first quarter of 2021.
Chief executive Duncan Painter said: "We are delighted that Glenigan has found a good home.
"The sale is a step forward for Ascential and our customers as our strategic focus and investments can be further concentrated on our core customer proposition: enabling our customers to design and create the right products, maximising their marketing impact and optimising their digital commerce performance."
As of 0850 GMT, Ascential shares were down 3.05% at 350.0p.