(Reuters) – Shares in Capita surged about 21% in early trading on Tuesday, after the British outsourcing firm agreed to sell its standalone software business Capita One to a unit of MRI Software in a deal worth 200 million pounds ($256.2 million).
The sale, done on a cash-free, debt-free basis, represents an about 10x multiple on 2023 core profit for Capita One, the London-listed firm said in a statement.
($1 = 0.7807 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Rashmi Aich)
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