RNS Number : 3460T
Capita Group PLC
04 June 2009
04 June 2009
COMPETITION COMMISSION'S FINAL REPORT REGARDING CAPITA'S ACQUISITION OF IBS OPENSYSTEMS
The Capita Group Plc confirms that the Competition Commission has issued its final report in relation to Capita's acquisition of IBS OPENSystems (IBS). The Competition Commission has confirmed that the completed acquisition by Capita of IBS is expected to result in a lessening of competition in the market for revenues and benefits software systems, used by local authorities to collect council tax and distribute benefits. The Competition Commission does not have concerns about the social housing software market that IBS also serves.
The Competition Commission is therefore requiring Capita to dispose of the part of the business that services the revenues and benefits market.
Capita is in early discussions with interested parties regarding this partial disposal of IBS and will make further announcements as and when appropriate.
If no suitable sale is achieved then the Competition Commission will require Capita to sell the entire IBS business.
For further information:
The Capita Group Plc
Tel: 020 7799 1525
Paul Pindar, Chief Executive
Shona Nichols, Corporate Communications Director
Notes to editors:
The Capita Group Plc is the UK's leading provider of BPO and integrated professional support service solutions. With 36,000 people at more than 300 sites, including 62 business centres across the UK, Ireland, the Channel Islands and India, the Group uses its expertise, infrastructure and scale benefits to transform its client's services, driving down costs and adding value. Capita is quoted on the London Stock Exchange (CPI.L), and is a constituent of the FTSE100 with revenues for 2008 of £2,441 million.
Further information on The Capita Group Plc can be found at: http://www.capita.co.uk
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