Capita has sold off another company claiming that it is part of a cunning plan to become “more focussed and sustainable”.
The professional services giant confirmed it has agreed to sell Pay360 to Access PaySuite in a £150 million deal on a cash-free and debt-free basis.
For those who came in late, Pay360 is a UK-based, FCA regulated payments business with 2,500 customers across the public and private sectors.
Its gross assets at 30 June 2022 were £63.6 million and for the year to 31 December 2021 it generated revenue of £45.8 million , EBITDA of £10.5million and profit before tax of £7.1 million .
