2/8/2016 2:22:38 PM
Regenersis sells repair business to focus on software
Regenersis has sold its repair business for £103.5m to CTDI Repair Services.
The company explained that it had taken the decision to dispose of the unit because the business had changed its strategy to focus on software. The firm will also change its name as a result to Blancco Technology Group.
Executive Chairman Matthew Peacock said he believed the deal represented ‘good value’ for shareholders. ‘In line with the company's strategy to position Regenersis as a pure play software asset,’ he said ‘the conditional disposal of the repair services business announced today is the outcome of a structured and competitive process, against a background of solid continued financial performance,"
It is significant that the business has been rebranded Blancco Technology Group whom Regenersis bought back in 2014 for £50m in a move to help consolidate its data services across the continent.
Regenersis had been successful that year in signing a number of big name deals with major players in the UK industry agreeing contracts with Telefonica, Nokia and Samsung.