Capita software deal

CAPITA has agreed to sell its software resale, licensing and technology services business Trustmarque for £115m.

The deal is the latest in a long line of sales by the outsourcing giant as it slims down its non-core assets to raise £700m – a target hit six months early.

Capita bought Trustmarque in 2016 for £57m and will sell the business to One equity Partners. It will receive £111m now and a further £3m if the business hits certain targets in the future.

Trustmarque saw revenues of £122m in 2020 and pre-tax profits of £16m.

Capita boss Jon Lewis has said the company aims to sell assets to focus on its Capita Public Service and Capita experience arms.