VT Sells off Software Division
Thursday, January 18, 2007
Support services and shipbuilding company VT Group has sold its software subsidiary VT Software Solutions to Civica Plc for $5.8m.
Software Solutions was acquired by VT as one of the Lex vehicle support businesses purchased from the RAC Group earlier this year.
The company's major business is supplying asset management software used in the vehicle management and social housing market, through the Tranman and Servitor products respectively.
VT Group chairman Mike Jeffries said: 'We have conducted a comprehensive business review of our vehicle support acquisitions and decided that Software Solutions was not aligned with our core business.
Source: The News of Portsmouth