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May 27, 1994

ACT SELLS ITS COMPUTER SUPPORT ARM TO MANAGEMENT FOR ?14.5m

By CBR Staff Writer

Still tidying up its portfolio of businesses after its big acquisitions, ACT Group Plc yesterday announced another divestment, this time to a venture-backed management buyout. It has sold its ACT Computer Support Ltd computer maintenance and support business for ?14.5m cash to a new company formed by the unit’s management with backing from NatWest Ventures Investments Ltd and Phildrew Ventures Third Fund. The sum includes settlement of inter-company debt.

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