Capita plc (GB:CPI) has released an update.
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Capita plc has struck a deal to sell its Capita One software business to Orchard Information Systems Limited, a subsidiary of MRI Software LLC, for £200 million on a cash-free, debt-free basis. This sale aligns with Capita’s strategy to focus on core operations and will provide a significant cash boost to reduce debt and fund transformation initiatives. The anticipated completion of the transaction is by the end of August, subject to shareholder approval and regulatory clearances.
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