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Capita plc has agreed to sell its travel and events businesses Agiito and Evolvi to Clarity Travel Ltd.
The sale is for “an enterprise value of £36.5m on a cash free, debt free basis.”
Capita said the senior management teams and employees will remain with their businesses as they transfer to Clarity, the business travel and events division of the Portman Travel Group Ltd.
The sale to Clarity is also subject to National Security and Investment Act approval.
Jon Lewis, CEO, Capita, said: “We are pleased to have agreed the sale of our travel and events businesses to Clarity, following a competitive sale process. The transaction offers significant growth opportunities for the businesses, their clients and colleagues.”
A Clarity spokesperson added: “This announcement sees years of expertise and experience combine in the sector alongside enviable reputations for service and driving value in corporate travel programmes. The new combined business will benefit from a unique, cutting-edge technology platform with proprietary technologies in Online Booking, Meetings & Events and Rail.”
Donna Fitzgerald, CEO, Agiito, said: “The planned acquisition is great news for Agiito, our clients and our people. Our businesses are such a great, complimentary fit and their combined strength will be hugely advantageous to our customers.”
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