UK outsourcing company to buy Irish software firm for almost €130m

The UK business recently put in charge of managing IBRC commercial property loans bound for Nama has agreed to buy an Irish-based specialist software firm for nearly €130m.

Capita, the support service solutions and business process outsourcing group which bought the international financial services arm of AIB three years ago, yesterday announced its intention to buy AMT-SYBEX for an initial consideration of €100m on a cash-free, debt-free basis.

The deal will also see an additional consideration of up to €27m paid, depending on AMT meeting specific profit targets over the coming year.