Capita plc - Merger of Education Software Solutions and ParentPay
London, July 12
Merger of Education Software Solutions and ParentPay
This announcement contains inside information
12 July 2021
The Competition and Markets Authority ('CMA') has today approved the merger of Education Software Solutions ('ESS') with ParentPay (Holdings) Limited ('ParentPay').
ESS was acquired by Tiger UK Bidco Limited, a newly formed company established by funds advised by Montagu Private Equity ('Montagu') from Capita plc (Capita) on 2 February 2021, with the intention of merging the business with ParentPay once the CMA had given its approval.
As previously announced, as a result of this approval Montagu will pay Capita deferred consideration of £45m. Capita expects to receive this payment on or before 26 July 2021.
For more information, please contact:
Director of Investor Relations
Tel: 07989 665484
Capita external communications
Tel: 0207 654 2399
Capita is a consulting, transformation and digital services business. Every day our 55,000 colleagues help millions of people, by delivering innovative solutions to transform and simplify the connections between businesses and customers, governments and citizens. We partner with clients and provide the insight and cutting-edge technologies that give time back, allowing them to focus on what they do best and making people's lives easier and simpler. We operate in the UK, Europe, India and South Africa - and across six divisions: Customer Management; Government Services; People Solutions; Software; Specialist Services; and Technology Solutions.
Further information can be found at: http://www.capita.com