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.”
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.
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.”
Agiito will be led by the combined executive leadership teams of both from Agiito and Clarity, headed by Pat McDonagh as CEO of Clarity.
A Clarity spokesperson said: “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, added: “This is an incredibly exciting step in our journey. Clarity will provide a natural home for our business and is well placed to support our ambitious growth in the UK and globally. I’m looking forward to working with the team to help us realise the full potential of our combined businesses.”
The sale to Clarity is subject to National Security and Investment Act approval.
