Just over two weeks ago Capita snapped up network services company Updata Infrastructure in an £80 million deal. This followed an earlier acquisition in which Capita gobbled up security and managed services player Network Technology Solutions.
The AMT-SYBEX purchase means Capita has brought a mobile technology and smart data management vendor into its fold. AMT-SYBEX specialises in the utilities and transport sectors while four of Capita’s clients include four of the `big six' energy companies, National Grid, Network Rail and Transport for London.
The acquisition is based on an initial consideration of £82m on a cash free, debt free basis, plus a contingent consideration of up to £23m based on the business reaching specific profit targets over the next 12 months.
Founded in 1990, AMT-SYBEX has developed applications that support service delivery in energy and water suppliers by managing the data of millions of consumers and enabling mobile working for employees.
AMT-SYBEX’s latest applications enable data capture from smart meters. There is expected to be an extensive roll out of smart meters in the UK and throughout Europe. Capita has a large footprint in the utilities markets and the acquisition is expected to help is leverage wider opportunities.
Andy Parker, chief executive, Capita, said: “... AMT's products and services, particularly as part of a wider Capita offering, have valuable applications in a range of other sectors, including health, defence, oil and gas and the finance and insurance markets. We look forward to welcoming the business into Capita and working with it to realise its full potential.”