(Alliance News) - Financial administrator outsourcer Equiniti Group PLC on Wednesday said it has sold its HR Solutions business to Civica for GBP13.2 million.
The unit provides payroll services "across a range of markets" and has the UK's NHS among its customers.
"The sale to Civica, a global leader in software for public services, reflects the board's strategic focus on core businesses and the reduction of leverage," Equiniti said.
"The group expects to recognise an accounting profit of GBP10 million on disposal."
Equiniti shares were 1.2% lower at 111.60 pence each in London on Wednesday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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