REG-Capita PLC: Capita agrees to sell AMT Sybex

CapitaAnnouncement

24/12/2021 07:05

24 December 2021

This announcement contains inside information

Capita agrees to sell AMT Sybex

Capita plc (‘Capita’) today announces that it has agreed to sell its AMT
Sybex software business to Jonas Computing (UK) Limited (‘Jonas’), in a
deal that values AMT Sybex at up to £40m.

AMT Sybex is the leading provider of critical utilities and infrastructure
software in the UK. Its software facilitates efficient and reliable energy
provision by balancing supply and demand.

Jonas will pay £23m on completion, which is scheduled for 1 January 2022.
Potential additional consideration of up to £17m is payable to Capita over 24
months, subject to certain conditions.

The reported revenue and profit before tax of AMT Sybex for the year to 31
December 2020 were £40m and £12m respectively. Gross assets were £77m at 30
June 2021

The AMT Sybex senior management team and employees will remain with the
business.

Capita previously announced its intention to sell a number of non-core
businesses to strengthen the balance sheet and focus on its two core
divisions, Capita Public Service and Capita Experience. The sale of AMT Sybex
brings the total proceeds from disposals in 2021 to at least £643m. We
continue to target £700m of non-core disposals proceeds by June 2022.

Jon Lewis, Capita’s Chief Executive Officer, said: “We are pleased to have
agreed the sale of our AMT Sybex business to Jonas following a competitive
sale process.

“As we continue to simplify and strengthen the business, this disposal is
another step towards a more focused and sustainable Capita for the long term.

“At the same time, our AMT Sybex colleagues and clients will join an
established industry organisation with plans to take the business onto the
next stage of its development.”

Capita is being advised on the transaction by Torch Partners.

For more information, please contact:

Investor enquiries
Stuart Morgan
Director of Investor Relations
Tel: 07989 665484
Email: IRteam@capita.co.uk

Media enquiries
Capita external communications
Tel: 0207 654 2399
Email: media@capita.co.uk 
 

About Capita

Capita is a consulting, transformation and digital services business. Every
day our 55,000 colleagues help millions of people, by delivering innovative
solutions to transform and simplify the connections between government and
citizens, businesses and customers. We partner with our clients and provide
the insight and cutting-edge technologies that give time back, allowing them
to focus on what they do best and making people’s lives easier and simpler.
We operate across three divisions – Capita Public Service, Capita Experience
and Capita Portfolio – in the UK, Europe, India and South Africa. Capita is
quoted on the London Stock Exchange (CPI.L). Further information can be found
at: http://www.capita.com

About AMT Sybex

AMT Sybex http://www.amt-sybex.com/ is the leading provider of critical
utilities and infrastructure software in the UK. Clients rely on its software
for the daily operation of the country’s utilities market, facilitating the
balance of demand and supply and ensuring the markets run efficiently and
reliably. AMT Sybex’s software is used to manage data flows for more than 35
million electricity and gas meter points, with around two million records
processed per day.

About Jonas Computing (UK) Limited

Jonas Computing (UK) Limited is part of the Jonas Software operating group,
which contains a diverse collective of over 100 independently managed software
companies around the world, providing them with the strategic guidance and
financial security required to be leaders within their respective markets.

Important notices:

Torch Partners IB Limited (“Torch”) is acting as financial adviser to
Capita plc and no one else, in connection with the transaction, and will not
be responsible to anyone other than Capita for providing the protections
afforded to clients of Torch nor for providing advice in relation to the
transaction, or any other matter or arrangement referred to herein. Neither
Torch nor any of its affiliates owes or accepts any duty, liability or
responsibility whatsoever (whether direct or indirect, whether in contract, in
tort, under statute or otherwise) to any person who is not a client of Torch
in connection with this announcement, any matter, arrangement or statement
contained or referred to herein or otherwise.

Torch Partners IB Limited is an appointed representative of Torch Partners
Corporate Finance Limited (“TPCFL”) which is authorised and regulated in
the UK by the Financial Conduct Authority. TPCFL’s Berlin office is
authorised and regulated by the Financial Conduct Authority and authorised and
supervised by the Bundesanstalt fur Finanzdienstleistungsaufsicht. Torch
Partners Corporate Finance Inc is a member of FINRA and SIPC and is authorised
to conduct business as a broker-dealer in the US.

Ends



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