Capita to acquire Bluefin Corporate Consulting

4 April 2012

               Capita to acquire employee benefits specialists,                

                         Bluefin Corporate Consulting                          

Capita plc (`Capita') announces today that it is to acquire Bluefin Corporate
Holdings Limited, which trades as Bluefin Corporate Consulting, from AXA, for a
cash consideration of £50 million on a cash-free, debt-free basis.

Bluefin Corporate Consulting provides employee benefits consultancy to medium
and large corporations. In addition to its consultancy services, Bluefin has
developed award-winning benefits management technology, which supports the
delivery of an increasing number of services across the group and is used by
more than 150 clients with over 80,000 employees.

It made a pro forma operating profit for its financial year to 31 December 2011
of £5.3 million on turnover of £51 million.

Commenting on the deal, Paul Pindar, chief executive of Capita plc said: "The
acquisition of Bluefin Corporate Consulting provides an excellent strategic fit
with our existing corporate pensions business, Capita Hartshead. Already a
leading provider of pensions administration, Capita Hartshead also provides
actuarial and investment consultancy, data analysis, pensions communications
and mortality screening. Bluefin Corporate Consulting provides pensions
administration, actuarial and investment consulting services alongside a
market-leading presence in online benefits technology, insured pensions,
flexible benefits and health and risk benefit consulting. Combining the
businesses will create a compelling proposition for both existing and new
clients."

The deal will also see Bluefin Corporate Consulting's chief executive, Nick
Burns, become chief executive of the combined business, working with Mike
Addenbrooke as non executive chairman.

Commenting on the deal, Nick Burns said: "Clients want to work with talented
people who really understand and care about them. I believe that Capita
Hartshead's strength in pensions administration, actuarial and consulting,
together with Bluefin's award-winning employee benefits expertise and
market-leading online technology, will combine to deliver a wide range of
client services. With the full backing of a FTSE 100 company, this new business
will be able to provide genuinely innovative solutions to the rapidly evolving
and increasingly dynamic employee benefits market."

Bluefin Corporate Consulting employs 548 people, principally in London and
across 8 further offices throughout the UK.

The acquisition excludes the general insurance and wealth management arms of
Bluefin and is subject to approval by the FSA.

                                    -ends-                                     

For further information:

Capita plc

Tel: [phone]

Paul Pindar, Chief Executive

Shona Nichols, Corporate Communications Director

 

Media enquiries

Capita press office

Caroline Mooney

Tel: [phone] or 020 7654 2399 (out of hours)

 

Notes to editors

Capita plc is the UK's leading provider of BPO and integrated professional
support service solutions. With 46,500 people at more than 350 sites, including
68 specialist business centres across Europe and India, the Group uses its
expertise, infrastructure and scale benefits to transform its clients'
services, driving down costs and adding value. Capita is quoted on the London
Stock Exchange (CPI.L), and is a constituent of the FTSE 100 with 2011 turnover
of £2.9 billion and profit before tax of £385 million. Further information on
Capita plc can be found at: http://www.capita.co.uk