Capita signs learning services contract renewal worth up to £124m with major UK financial services client

Capita plc (‘Capita’) today announces it has been awarded a contract renewal to provide a range of learning services for a major UK financial services institution.

Building on a long-term partnership, the contract renewal – which started on 1 July 2021 – is worth up to £123.6m over five-and-a-half years.

Capita is already a trusted partner to the client, providing a broad range of learning services, as well as market insight and thought leadership. These services include learning consultancy, virtual and face-to-face learning programmes, and digital and simulated learning.

Capita, through its Capita Learning business, will provide end-to-end learning services to the client in a more innovative, digital and efficient way under the renewed contract, partly as a result of Capita Learning’s recent transformation.

Capita is also responsible for procurement and management of any third-party learning suppliers to the client, including administrating training and the sourcing of learning professionals to deliver on client projects.

The contract, which will directly service the learning needs of the client’s employees, will be delivered by a team of 40 skilled Capita colleagues based in Reading and Poland.

This is a significant renewal with a major client for Capita and forms an integral part of the company’s ongoing transformation, supporting the delivery of improving financial returns. The contract was won following a competitive bid process.

Jon Lewis, Chief Executive Officer of Capita, said: “This contract renewal demonstrates the strength and success of the long-term strategic partnership we have with our client.

“As a result of working closely and collaboratively as a learning partner for a number of years, we have been able to understand and adapt to their changing needs effectively, ensuring they always have access to the skills they and their people need”.

Notes to editors:

The majority of the contract is based on historical and expected volumes, and therefore treated as transactional revenue. The IFRS 15 transaction price (order book) for the five-and-a-half-year contract renewal is £4.2m.