There was a lot more to say about Capita’s first half results (see here), after listening to CE Paul Pindar and other senior management discuss Capita’s performance and prospects.
Capita followed up this morning with the acquisition of NorthgateArinso’s pensions administration business for £27.5m on a cash-free, debt-free basis. The business employs 90 people in the UK and made a pro forma operating profit for its year to 30 April 2011 of £4.7m on turnover of £10.1m. It has a mostly private sector client base with names such as Aviva, Boots, Michelin and Rentokil, and the deal clearly underlines Capita’s intention stressed by Pindar yesterday, to really go after future pensions administration opportunities.
I’ve written a longer analysis on Capita for BusinessProcessViews here. But you’ll have to be a TechMarketView subscriber to read it.