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

Editors Pick
Federal Aviation Administration said several pilots complained about pointing of strong green laser beams at planes flying over Long Island. The location was around Farmingdale, during 9.30 pm and 10 pm. Searches are on to locate the exact source of the laser beam. The Federal official suspects that the beam came from a hand-held device. Discount retailer Big Lots, Inc. Friday reported an increase in income from continuing operations for the first quarter, from last year. The company also registered a surge in net income particularly as it had carried a loss from discontinued operations last year. Taco Bell, a division of Yum! Brands Inc, is planning to test delivery of food items on college campuses, the Street reported. The move comes at a time the fast food chain seeks to leverage demand for its popular breakfast and dinner items.
comments powered by Disqus
Follow RTT