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Capita (CPI) sells AMT Sybex to Jonas Computing for £40m

By David Burrows

08:50, 24 December 2021

Capita office in Leeds, England
Capita announced its intention to sell a number of non-core businesses to strengthen the balance sheet - Photo: Alamy

Capita, the UK-based consulting, transformation and digital services business, has agreed to sell its AMT Sybex software business to Jonas Computing, in a deal worth around £40m ($54m).

AMT Sybex is a provider of critical utilities and infrastructure software in the UK.

Jonas will pay £23m on completion, scheduled for 1 January 2022. An additional payment of up to £17m will be payable to Capita over 24 months, subject to certain conditions.

The reported revenue and profit before tax of AMT Sybex for the year to 31 December 2020 were £40m and £12m respectively. Gross assets were £77m at the end of June.

Employees and the senior management of AMT Sybex will remain with the business.

The Capita stock price rose just over 1.4% in early morning trading to 37.59p

TSLA

249.42 Price
+5.620% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.18

NVDA

477.93 Price
-0.860% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.23

AMZN

147.02 Price
-0.540% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 0.27

VODl

0.72 Price
-0.490% 1D Chg, %
Long position overnight fee -0.0253%
Short position overnight fee 0.0033%
Overnight fee time 22:00 (UTC)
Spread 0.0125

Disposal of non-core businesses

Capita previously announced its intention to sell a number of non-core businesses to strengthen the balance sheet and focus on its two core divisions, Capita Public Service and Capita Experience.

The sale of AMT Sybex brings the total proceeds from disposals in 2021 to at least £643m. Capita continues to target £700m of non-core disposals proceeds by early summer next year.

Commenting on today’s deal Jon Lewis, Capita’s chief executive officer, said: “We are pleased to have agreed the sale of our AMT Sybex business to Jonas following a competitive sale process.

“As we continue to simplify and strengthen the business, this disposal is another step towards a more focused and sustainable Capita for the long term.

“At the same time, our AMT Sybex colleagues and clients will join an established industry organisation with plans to take the business onto the next stage of its development.”

Read more: Flutter Entertainment (FLTR) bets big on Italian Sisal for £1.62bn

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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