May 12 Anite Plc, which provides
software to travel and wireless clients, has entered exclusive
talks to sell its travel business to LDC, the private equity arm
of Lloyds Banking Group Plc, The Telegraph reported on
Anite's shares rose as much as 8.4 percent in early trading
on Monday, making the stock the top percentage gainer on the
London Stock Exchange.
The Telegraph reported that Anite's travel division could
fetch around 40 million pounds ($67.4 million). It said Evercore
was advising Anite on the sale process. (r.reuters.com/myb39v)
Anite declined to comment on the report when contacted by
Reuters. LDC could not immediately be reached for comment.
In a trading update on Monday, Anite said it was still
investigating the potential sale of its travel reservation
software business, in line with its previously announced
strategy to focus on its wireless division.
Anite said in February that it was considering selling its
Anite Travel unit. The business accounted for about 15 percent
of the company's total revenue of 132.5 million pounds ($223.13
million) in 2013.
The sale of the travel business would leave Anite with its
wireless network and handset-testing business. Its clients
include Samsung Electronics Co Ltd and Vodafone
Anite also said it expected full-year revenue and adjusted
operating profit for the year ending April 30, 2014 to be in
line with expectations.
The company's stock was trading up 8.1 percent at 89.25
pence at 0710 GMT.
($1 = 0.5938 British Pounds)
(Reporting by Noor Zainab Hussain in Bangalore; Editing by