Equiniti to sell Charter Systems for £1.95m

Services and payments company Equiniti said on Tuesday that it has exchanged contracts to sell its covert intelligence software business, Charter Systems, to Northgate Public Services for £1.95m.

Equiniti said the sale to NPS, which provides public sector and law enforcement technology solutions, reflects the board’s "ongoing focus on core businesses and the reduction of leverage".

Chief executive Guy Wakeley said: "We are pleased to sell Charter Systems, a market leading software business in its field, to a very complementary acquirer, and wish our colleagues and former clients well for the future. This disposal allows EQ to continue to focus on its core businesses."

The transaction is expected to complete on 31st December.