29 Sep 2017 07:00
29 September 2017
Daily Mail and General Trust plc (DMGT)
Disposal of Admissions education business
DMGT announces the sale of Hobsons' Admissions software business to Campus Management Corp., increasing DMGT's portfolio focus, consistent with the Group's strategic priorities.
The transaction streamlines Hobsons, DMGT's education technology business, allowing it to focus on its core student success technology businesses, the K-12 career and college planning platform, Naviance, the student matching product, Intersect, and the higher education student retention business, Starfish. These are business lines that Hobsons has the greatest opportunity to grow.
The Admissions business, which supplies CRM and application management software to higher education institutions and accounted for approximately a quarter of Hobsons' revenues in the year to date, is expected to further enhance Campus Management's product suite, improving its position in an increasingly competitive market.
For further information
For analyst and institutional enquiries: | |
Adam Webster, Head of Management Information | |
and Investor Relations | adam.webster@dmgt.com |
For media enquiries: | |
Alex Moorhouse, Head of Communications | +44 20 3615 2245 |
About DMGT
DMGT manages a diverse, multinational portfolio of companies, with total revenues of almost £2 bn, that provide businesses and consumers with compelling information, analysis, insight, events, news and entertainment. DMGT is also a founding investor and the largest shareholder of Euromoney Institutional Investor PLC and ZPG Plc.