CPI IS SKYROCKET WITH THE NEWS - SALE OF ESS FOR £500 MILLION29 Jun 2020 10:04
CPI is leading riser board today - News of the sale ESS for £500 Million.
June 19 (Reuters) - British outsourcing group Capita Plc CPI.L said on Friday it will sell its legal process software product Eclipse Legal Systems to Access UK Ltd and was also seeking to offload its Education Software Solutions (ESS) unit. The FTSE-250 firm will look to sell its ESS unit, whose platform SIMS is used by 21,000 schools in England, Wales and Northern Ireland, for at least 500 million pounds ($617 million), the EducationInvestor Global website reported. Capita said it will receive 56.5 million pounds from Access UK for the sale of its legal process software product. The divestitures would help shore up the company's finances at a time when others have had to launch rights issues to raise funds. The deals come as part of a broader strategic review of the software division by the company, which provides information technology-led services for the public and private sectors. The company added that it will consider selling more standalone software product businesses in due course as part of the strategic review.