London—Dentons has advised Capita plc ('Capita'), a modern outsourcer, helping clients across the public and private sectors run complex business processes more efficiently, on the sale of its standalone software business Capita One, via the sale of Capita One Limited, to Orchard Information Systems Limited, a wholly-owned subsidiary of MRI Software, LLC, a global leader in real estate solutions and services, in a deal that values Capita One Limited at £200m on a cash-free, debt-free basis.

The disposal will result in the Capita group receiving expected gross cash proceeds of approximately £207m upon completion. Prior to completion, the Capita Group also expects to receive a cash dividend of £4.8m from Capita One.

Capita One provides local authorities, local education authorities and housing associations with revenues & benefits, social housing management and education management software. It helps local authorities to drive efficiency, maximise revenue collection, and deliver essential public services as cost effectively as possible.

The sale will realise material value for Capita's shareholders and the net cash proceeds will provide Capita with additional cash resources to strengthen its financial position and further reduce indebtedness, as well as funding for its transformation journey.

Ali Sayyah, Corporate Development Director at Capita commented, “The Dentons team have been instrumental in achieving the successful outcome of this deal, and we are grateful for their outstanding expertise, tireless efforts and dedication throughout the process."

Neil Nicholson, head of UK Corporate at Dentons commented, "We're very pleased to have played a key role in supporting Capita's strategic initiatives. Our team's dedication and M&A expertise have once again delivered exceptional results for our valued client."

The multi-practice Dentons team advising Capita was led by Corporate partners Neil Nicholson and James Vernon and included Corporate partner Joseph Collingwood, Corporate associates Arjun Mehta, Katie Henson and Anna Clark, Corporate trainees Tom Day and Shanie Earl, TMT partner Sarah Lima, TMT senior associate Tom Winstanley, Tax partner Alex Thomas, Tax counsel Alastair MacLeod, Tax consultant John Finnick, Competition partner Adrian Magnus, Competition senior associate Sanam Shah, and PRM partners Eleanor Hart and Rhodri Thomas.

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