Capita plc - Agreement to sell Education Software Solutions
PR Newswire
Agreement to sell Education Software Solutions
Capita plc ( Capita ) today announces that it has agreed to sell its Education Software Solutions ( ESS ) business to Tiger UK Bidco Limited, a newly formed company established by funds advised by Montagu Private Equity ( Montagu ), in a deal that values ESS at up to £400m.
ESS is a standalone provider of management information system (MIS) and related software for the education sector.
Part of the consideration agreed is for Montagu to assume liabilities such as working capital and debt worth £57m. Montagu will pay £298m on completion, expected early in 2021.