# Capita agrees to sell AMT Sybex

- Link: https://www.directorstalkinterviews.com/capita-agrees-to-sell-amt-sybex/4121040042
- Published: 2021-12-24T07:13:03+00:00
- Author: Giles

**Capita plc** (LON:CPI) today announced that it has agreed to sell its AMT Sybex
software business to Jonas Computing (UK) Limited, 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.”

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