NCC sells Software Testing business to QualiTest
NCC Group, the UK-based computer security specialist, has completed the sale of the Software Testing business to QualiTest, the Connecticut-based pure play software testing and business assurance company, for immediate cash consideration of £3.6 million on a cash and debt free basis.
The Group’s Strategic Review, which was completed in July 2017, concluded that its Software Testing and Web Performance businesses had little strategic overlap with the Group's broader cyber security and business continuity activities. It was management's view that both businesses would benefit from operating within companies whose core activities were more closely aligned to their own.
At the end of April 2018, net assets attributable to the Software Testing business amounted to £9.7 million, which included £8 million of goodwill from the original acquisition of Software Testing in 2009. In the 11 months to the end of April 2018, Software Testing contributed £0.7 million of Adjusted EBIT to the Group's performance.
The acquisition of NCC Group's software testing division will significantly expand QualiTest's presence in the UK, the company said in a statement.
Following the sale of the Web Performance business on 28 March 2018, the sale of Software Testing therefore completes the divestment process.