Capita snaps up software player

Outsouring giant Capita (CPI) has agreed to acquire proprietary software business AMT-SYBEX for £82m upfront with a further £23m contingent upon AMT meeting profit targets over the next 12 months. AMT provides software and services in smart data management and mobile technology to the utilities and transport sectors, which are key areas of focus for Capita. AMT made an operating profit of £13m on turnover of £45m in its latest financial year. Broker Peel Hunt says, based on the initial consideration, the deal represents a return on invested capital of almost 16 per cent. Peel Hunt nudges up its 2014 earning per share forecast by 1 per cent to 63.3p.