Capita to offload software businesses in efforts to strengthen its balance sheet June 8, 2023 Outsourcing firm Capita has agreed to sell its five software businesses for an enterprise value of £33m, as the group looks to strengthen its balance sheet and focus on its two core public service and experience divisions. The London listed firm said it hopes to receive cash proceeds of £44m on completion of the sale [...]
Capita wins £565m in government contracts – despite major data breach May 25, 2023 Capita was today confirmed as the government’s chosen partner in two contracts worth a combined total of £565m – despite two recent major data breaches, the impact of which is still being investigated. The firm said the investigation and clear up will cost between £15m and £20m – this includes “further steps [taken] to ensure [...]
Capita warns of £20m hit from cyber attack May 10, 2023 A cyber attack against outsourcing firm Capita which saw personal information leaked onto the dark web is likely to cost £15-20m to resolve, the firm revealed this morning.
Capita: Local authority contractor says ‘limited’ data accessed by hackers in recent cyber attack April 20, 2023 Outsourcing firm and government contractor Capita said customer, supplier or colleague data may have been accessed by hackers in a recent cyber attack on the firm. The group – a major contractor for local authorities – said investigations since the hack was discovered on March 31 have shown evidence of a “limited” data breach. It [...]
Outsourcing firm Capita secures £57m council contract extension and sells off £150m division September 16, 2022 London-listed outsourcing firm Capita has secured an extension to its contract with Barnet council worth up to £57m, as it sold a division worth £150m. The company will continue to work with Labour-run Barnet Council to deliver back-office services in a deal worth £42.7m, with potential add-ons. With indexation and extra work the extension could [...]
Capita posts ‘strong’ first half results as BBC TV licensing contract boosts outsourcer’s revenues June 29, 2022 Capita today posted “strong” results for the first half of 2022, after a series of “significant” government contracts boosted its H1 revenues. The outsourcing company said trading in the first half of 2022 sat in line with expectations, as it said its revenues were bolstered by the renewal of a £456m contract to run the [...]
London’s Capita sells government joint venture Axelos for £380m June 21, 2021 London-headquartered outsourcing firm Capita has sold its UK government joint venture Axelos for £380m, as Capita looks on track for growth for the first time in six years. Shares rocketed 6.03 per cent in this morning trading, taking its share price to 39.91p per share. The joint venture, set up by the firm with the [...]
Capita announces major restructure alongside plans to raise £700m March 17, 2021 Outsourcing giant Capita has announced a fresh restructuring plan alongside efforts to raise £700m from selling non-core assets, as it seeks to recover from a difficult year during the pandemic. The group, which provides IT-led business services to the public and private sector, will simplify its six operations into three divisions. Capita Public Service will [...]
Capita sells edtech business to Montagu for £400m December 14, 2020 Capita today announced that it has sold its Education Software Solutions (ESS) business to private equity firm Montagu for £400m. The announcement comes a few weeks after the FTSE 250 firm confirmed that it was in exclusive talks with the financiers. Shares in Capita rose 3.5 per cent on the back of today’s announcement, which [...]
Capita confirms talks to sell ESS to private equity firm Montagu November 27, 2020 UK outsourcing group Capita today said it is in exclusive talks with private equity firm Montagu about the potential sale of its Education Software Solutions (ESS) business. Capita said it “confirms” the negotiations after media speculation. Yet it said there “can be no certainty” that a deal will be reached. Bloomberg last month reported that [...]