logo
Share SHARE
FONT-SIZE Plus   Neg

Capita To Buy Northgate Managed Services For £65 Mln

UK-based professional support solutions provider Capita Group Plc (CPI.L) said Thursday it is buying Northgate Managed Services Limited, or NMS, from Northgate Information Solutions for an enterprise value of 65 million pounds.

The purchase price comprises 22 million pounds payable in cash and, in addition, the assumption by Capita of a pension deficit of 17 million pounds, net of tax relief, and finance leases for equipment used in the business of 26 million pounds.

Northgate Managed Services, which had a turnover of 141.6 million pounds in 2012, provides cloud-based, infrastructure solutions and specialist managed services to public, private and third sector businesses.

Commenting on the acquisition, Paul Pindar, Chief Executive of Capita plc, said, "...By combining NMS's managed IT services with Capita's complementary business process and IT outsourcing capabilities, Capita will enhance its offering to clients and enable them to transform the way they do business."

The completion of the acquisition is subject to approvals from the necessary parties, added Capita.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

24 Articles
Editors Pick
The performance of Biotech stocks thus far this month is nothing to write home about, if we were to look at it from the standpoint of the movement of the NYSE Arca Biotechnology Index. A peek at what transpired on the FDA front in August and a preview of what September holds in store for us look pertinent. United Continental Holdings, Inc. on Monday appointed Scott Kirby as President of United Airlines with immediate effect. Kirby, an industry veteran aged 49, joins United from American Airlines Group Inc., where he was president since 2013, following the merger of American Airlines and US Airways. Meanwhile, American announced that Chief Operating Officer Robert Isom will become the President. Apple Inc. (AAPL) has scheduled its annual hardware event on Wednesday, September 7, when the tech giant is expected to unveil the most-awaited smartphone of the year-- iPhone 7. Apple has sent out invitation to the media and published the event on its website with a simple title "See you on the 7th." Although,...
comments powered by Disqus
Follow RTT