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  5. Anite sells travel reservation business for 45 mln stg

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Share Price: 53.94
Bid: 53.84
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Change: 0.22 (0.41%)
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Anite sells travel reservation business for 45 mln stg

Thu, 29th May 2014 13:54

May 29 (Reuters) - Anite Plc, which tests handsetand telecom networks, said it sold its travel reservationsoftware business to the private equity arm of Lloyds BankingGroup Plc.

Anite, whose clients include Samsung Electronics Co Ltd and Vodafone Group Plc, sold its traveldivision to LDC for 45 million pounds ($75 million) in cash.

The company said the deal was debt free and 1.7 millionpounds of the consideration will be held in escrow subject tothe resolution of certain commercial considerations.

The business accounted for about 15 percent of Anite's totalrevenue of 132.5 million pounds in 2013. ($1 = 0.5986 British Pounds) (Reporting by Noor Zainab Hussain in Bangalore; Editing bySavio D'Souza)

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