Horizon may sell Webfactory, claims report

Horizon might be in the process of selling off its web and internet services developer subsidiary Webfactory, according to reports from electricnews.net.

The deal is rumoured to be in the form of a management buyout.

Webfactory recently won a string of high profile contracts.

The news comes as Horizon attempts to streamline its activities and concentrate more closely on its core functions.

The company sold its Cisco training unit for €12m in June.

Horizon only bought Webfactory in June.