Mon, 12 May 2014 | DIVISION SALE
Wireless and travel software company Anite plc is gearing up for a sale of its travel business.
It is believed that the travel arm, which provides software solutions for online bookings to leisure companies, could sell for about £40 million.
While Anite’s board confirmed the sale investigations, it said, “there’s no certainty that this process will result in a transaction”. It said in February that it is collaborating with Evercore Partners advisers to assess disposal options.
The announcement came after reports in the Sunday Telegraph that the firm was in exclusive sale discussions with LDC, Lloyds Banking Group’s private equity outfit. It is thought Carlyle Group and ECI had also expressed interest in the company in the past.
The travel arm’s takings accounted for 14 per cent of Anite’s total operating profit of £34.5 million for the year ending 30 April 2013, and 15 per cent of the company’s total sales of £132.5 million.
In December the Hampshire-based company said its travel arm was slightly in front of the board’s expectations, with an increase in profits.
A sale would enable Anite to focus its efforts on its mobile and network testing.
Established in 1973 as Cray Electronics Ltd, the business was initially focused on engineering, defence systems and equipment testing. It acquired a travel business called Autofile Ltd in 1992, along with two other businesses over the years to date.
_______________________________________________________________________
Related information:
Selling a business
This well-established IT services business offers a robust portfolio including IT support, broadband, and software licensing, with strong partnerships with top manufacturers like HP, Samsung, and Apple. It boasts a solid customer base with a high ret...
Explore the chance to acquire the leasehold of a private dental practice in the desirable location of Bedfordshire.
LEASEHOLD
An opportunity to acquire the lease of a private dental practice in the desirable area of NW London.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.