Capita to acquire AMT-SYBEX Group
14 April 2014
Capita to acquire AMT-SYBEX Group
Capita plc (`Capita') has agreed to acquire AMT-SYBEX Group Limited (`AMT') for
an initial consideration of £82 million on a cash free, debt free basis, plus a
contingent consideration of up to £23 million based on the business reaching
specific profit targets over the next 12 months.
AMT is a proprietary software business providing software and related services
in mobile technology and smart data management to the utilities and transport
sectors, which are key markets for Capita. Its clients include four of the `big
six' energy companies, National Grid, Network Rail and Transport for London.
Founded in 1990, AMT has developed applications for its long term clients that
support efficiencies and service delivery in energy and water suppliers,
managing the data of 35 million consumers and enabling mobile working for over
35,000 employees. In addition, the company's software products help clients to
manage company assets, carry out mobile inspections, and perform maintenance
work on infrastructure. AMT's latest developed applications will enable data
capture from smart meters as they are rolled out in the UK and throughout
Europe.
It is forecasting an operating profit of £13 million on turnover of £45 million
in its current financial year to January 2015.
Andy Parker, Capita plc chief executive said: "AMT is an innovative, high
performing, quality business working with a range of industries and sectors
undergoing huge competitive and structural pressures, including the
deregulation of energy markets, the roll-out of smart metering and more
demanding and connected customers. Its products and services allow clients to
effectively manage data from a variety of sources, mitigate against risk and
ultimately contribute towards better customer service.
"There are therefore powerful synergies with Capita's existing footprint as it
works within the utilities markets to drive transformational change, improve
efficiency, use data analytics to improve customer attraction and retention and
get businesses and customers better connected through using digital and other
channels more effectively.
"In addition, AMT's products and services, particularly as part of a wider
Capita offering, have valuable applications in a range of other sectors,
including health, defence, oil and gas and the finance and insurance markets.
We look forward to welcoming the business into Capita and working with it to
realise its full potential."
AMT employs around 250 employees based in Dublin, Belfast, Glasgow and
Letchworth.
Completion of the acquisition is subject to approval from the competition
authority in Ireland.
For further information:
Capita plc
Tel: 020 7799 1525
Andy Parker, Chief Executive Officer
Shona Nichols, Corporate Communications Director
Media enquiries only:
Capita press office
Caroline Mooney
Tel: 020 7654 2152 or 020 7654 2399 (out of hours)
Email: caroline.mooney@capita.co.uk
Note to editors
Capita plc is the UK's leading provider of BPO and integrated professional
support service solutions. With 64,000 people at over 400 sites, including 73
business centres across the UK, Europe, India and South Africa, 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 2013 revenue
of £3.9 billion. Further information on Capita plc can be found at:
www.capita.co.uk
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