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Capita Makes Further Acqusition

Capita Makes Further Acqusition

Capita has agreed to acquire Northgate Managed Services Limited (NMS) from Northgate Information Solutions for an enterprise value of &pound65 million. This comprises &pound22 million payable in cash consideration and, in addition, the assumption by Capita of a pension deficit of &pound17m net of tax relief and finance leases for equipment used in the business of &pound26 million.

Northgate Managed Services provides cloud-based, infrastructure solutions and specialist managed services to public, private and third sector businesses. NMS made a pro forma operating profit for its financial year to 30 April 2012 of &pound10 million on a turnover of &pound141.6 million. 

Commenting on the acquisition, Paul Pindar, Chief Executive of Capita plc, said: "As the pressure mounts for businesses to gain efficiency, technology has a growing role to play. By combining NMS's managed IT services with Capita's complementary business process and IT outsourcing capabilities, Capita will enhance its offering to clients and enable them to transform the way they do business."

Headquartered in Newtownabbey in Northern Ireland, NMS has approximately 1,000 employees and a local IT services delivery centre. Completion of the transaction is subject to approvals from the necessary parties.

Separate divisions to NMS are being retained by Northgate Information Solutions. 

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