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16 Feb 2021 | 15:07

Capita exploring potential sale of Axelos JV

(Sharecast News) - FTSE 250 outsourcer Capita said on Tuesday that it and the Cabinet Office are "exploring strategic options" with regards to their joint venture, Axelos, including a potential sale of the business. "There can be no certainty that this review will result in a transaction involving Axelos," Capita said, adding that any further announcements will be made if and when appropriate.

Created in 2013, Axelos is responsible for developing, enhancing and promoting a number of best practice methodologies used by professionals working primarily in project, programme and portfolio management, IT service management and cyber resilience.

Axelos generated revenue of £47.6m in 2019.

At 1510 GMT, Capita shares were down 0.5% at 40.37p.
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