Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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.

Click here to receive FREE breaking news email alerts for Capita Group PLC and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The Swiss economy stalled in the second quarter as the improvement in household spending was insufficient to offset the weakness in exports and investment in construction. Gross domestic product remained flat from the first quarter, when it accelerated to 0.5 percent, the State Secretariat for Economic Affairs said Tuesday. Economists had expected GDP to rise 0.5 percent in the second quarter. Policymakers of Reserve Bank of Australia decided to maintain its record low interest rate once again as they continue to assess that the most prudent course is a period of stability in interest rates. The monetary policy board retained the cash rate at 2.50 percent. The rate has been at the current level since August 2013. A ban on athletes using stamina-boosting gases - xenon and argon - came into effect on Monday. The World Anti-Doping Agency (WADA) said Hypoxia-Inducible Factor (HIF) activators Xenon and Argon have been added to the 2014 List of Prohibited Substances and Methods List following the required three-month notice period and UNESCO's communication to all States Parties. A recommendation to revise the
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.