Private equity buyer
Fill her up with debt. Pay big dividend to private equity. List on the SE before anybody notices the crippling debt.
Capita has agreed to offload its Education Software Solutions (ESS) biz to a private equity buyer for around £400m, which is understood to be £100m below its lowest valuation when the unit was put up for sale. Under the terms of the agreement, Tiger UK Bidco Ltd, a newly formed offshoot of Montagu Private Equity, will cough £ …
Sims is a really poor "legacy" piece of software and their replacement Sims 8 has been in development for 5 years with no real progress.
Basically the EES division has been a sinking ship with thousands of schools moving away from it in the last year or so.
The valuation is crazy, i'm surprised this private equity firm fell for such a high buy price even if they think they are getting a bargain!!
Sims needs to be thrown in the bin and a new agile cloud based platform developed.
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