TMCnet News
Travel reservation software sold by Anite in pound(s)45m deal [Herald, The (Scotland)](Herald, The (Scotland) Via Acquire Media NewsEdge) ANITE Plc, which tests handset and telecoms networks, said it had sold its travel reservation software business to the private equity arm of Lloyds Banking Group Plc to focus on its wireless business. Anite, whose clients include Samsung Electronics and Vodafone Group, sold its travel division to LDC for pound(s)45 million in cash. Anite's shares rose as much as 6.5 per cent on the London Stock Exchange yesterday afternoon. The business accounted for about 15 percent of Anite's total revenue of pound(s)132.5 million in 2013. "It is a good valuation and largely as expected, but more than that it allows them (Anite) to concentrate on growth opportunities in the mobile space," finnCap analyst Lorne Daniel told Reuters. The multi-billion-pound rollout of long-term evolution (LTE) 4G networks in China has helped boost revenues for telecoms testing companies such as Spirent Communications. Fleet, Hampshire, based Ante said it would use the proceeds from the sale to pay down its existing debt and invest further in its wireless business. (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |