Capita sells its software division for £33.5 million 2023

As the outsourcer strives to improve its balance sheet, the UK government contractor Capita said that it has reached an agreement to sell its five software firms for a total enterprise value of 33 million pounds.

On Thursday, the firm said that it expected to receive cash proceeds of £44 million upon the completion of the agreement. This figure would include about £9 million in cash that was included within the businesses that were sold. It currently intends to and concentrate on its two primary segments, which are public service and experience.

Capita has already disclosed plans to sell its essential messaging services business, which is known as PageOne, and in May, the company divested itself of its resourcing and security watchdog companies.

The transaction comes as the company has projected a loss of £15 million as a result of a cyber assault that occurred in March and resulted in personal information being released into the dark web.