The sale to CTDI Repair Services LTD is expected for completion in Q2 this year
Handset repair company Regenersis has sold its repair services business to CTDI Repair Services LTD for €103.5 million (£80 million).
The sale was made as part of Regenersis’ move into becoming a software-based company. Regenersis will be renamed Blancco Technology Group PLC. The cash will be paid upon completion, which has been set for Q2 this year. Regenersis said it will return £50 million in capital to shareholders following its disposal.
Executive chairman Matthew Peacock said: “In line with the company’s strategy to position Regenersis as a pure play software asset, the conditional disposal of the repair services business announced today is the outcome of a structured and competitive process, against a background of solid continued financial performance.”