Fintel, the parent company of SimplyBiz, has sold “non-core” Zest Technology for £10m.
The adviser support services group sold Zest to FPE Capital. It said the deal could result in an additional £1.5m based on full-year revenues. Zest provides software for the employee benefits market, delivered directly to clients and through licensees. The Fintel board said it believed the sake was excellent value for shareholders for a non-core asset. In a trading update, the firm added business was in line with overall expectations for the first six months of the year. Revenues, it said, were up 10T% year-on-year with EBITDA up 12%. It added core membership business had been robu...
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