Xploite to sell Anix unit to ACS

LONDON (Reuters) - IT services company Xploite (XPT.L) said on Tuesday it would sell its Anix managed services division to U.S. company Affiliated Computer Services (ACS.N) for 31.5 million pounds in cash.

Xploite said the offer represented a cash profit of 10.5 million pounds, which would in the short term be used to pay down bank debt of around 7.6 million pounds.

The rest of the cash would likely be used for acquisitions, capitalising on current weakness in the IT services market, it said.

"This very competitively priced and unsolicited cash offer provided us with an excellent cash return at a time of considerable market uncertainty," said chief executive Ian Smith.

The disposal of Anix to ACS's Business Process Solutions subsidiary is subject to deduction for debt and working capital of around 3 million pounds, the company added.

Shares in Xploite were up 1.7 percent at 58.5 pence by 8:33 a.m., having earlier jumped as much as 14 percent.

(Reporting by Kylie MacLellan; Editing by Rosalba O'Brien)