Capita announces it has agreed to sell Capita Translation and Interpreting (CTI) to LanguageLine
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Capita plc today announces that it has agreed to sell Capita Translation and Interpreting (CTI) to LanguageLine.
CTI is a UK-based provider of specialised language services for the private and public sectors. LanguageLine is a leading global supplier of translation and remote interpreting services. CTI’s sale to LanguageLine will strengthen the service offering of one of the world’s largest language-services providers with more than 10,000 employees and 40 years of history, resulting in a stronger range of technology-driven translation and interpreting solutions.
The sale is subject to certain consents.
The senior management team and employees of CTI will remain with the business as it transfers to the ownership of LanguageLine.
Capita previously announced its intention to sell a number of non-core businesses to strengthen the balance sheet and focus on its two core divisions, Capita Public Service and Capita Experience. The agreement to sell CTI follows the completion of a number of other sales processes this year.
Jon Lewis, Capita’s Chief Executive Officer, said: “We are pleased to have agreed the sale of CTI to a leading market player, LanguageLine. It marks another positive step, as we continue to simplify and strengthen Capita, and become a more successful business for the long term. We will continue to execute on our plan at Capita to materially reduce debt through the disposal of non-core businesses.”