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Capita Plc To Sell Education Software Solutions - Quick Facts

Capita plc (CPI.L) has agreed to sell its Education Software Solutions business to Tiger UK Bidco Limited, a newly formed company established by funds advised by Montagu Private Equity, in a deal that values ESS at up to 400 million pounds. The ESS senior management team will be transferring with the business.

Capita plc will use the proceeds from the transaction to strengthen balance sheet and 50 million pounds will be used to replace the remaining value of an asset-backed financing agreement, relating to intellectual property developed by ESS, which was entered into in 2012 with the Capita pension scheme.

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