AdvancedAdvT Limited (LSE:ADVT) agreed to acquire non-core software businesses of Capita plc (LSE:CPI) for £44 million on June 8, 2023.The enterprise value of the businesses is £33 million. The combined reported revenue and profit before tax of the non-core software businesses for the year to 31 December 2022 were £35 million and £3 million respectively. Gross assets were £81 million at 31 December 2022.The senior management team and employees will remain with their businesses as they transfer to the ownership of AdvancedAdvT.

The sale to AdvancedAdvT is subject to National Security and Investment Act approval. Deloitte UK is advising Capita plc (LSE:CPI) on this transaction.