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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 RTTNews Staff Writer

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