Daily Mail & General Trust PLC Disposal of Admissions education business (1517S)

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RNS Number : 1517S

Daily Mail & General Trust PLC

29 September 2017

29 September 2017

Daily Mail and General Trust plc (DMGT)

Disposal of Admissions education business

DMGT announces the sale of Hobsons' Admissions software business to Campus Management Corp., increasing DMGT's portfolio focus, consistent with the Group's strategic priorities.

The transaction streamlines Hobsons, DMGT's education technology business, allowing it to focus on its core student success technology businesses, the K-12 career and college planning platform, Naviance, the student matching product, Intersect, and the higher education student retention business, Starfish. These are business lines that Hobsons has the greatest opportunity to grow.

The Admissions business, which supplies CRM and application management software to higher education institutions and accounted for approximately a quarter of Hobsons' revenues in the year to date, is expected to further enhance Campus Management's product suite, improving its position in an increasingly competitive market.

For further information

 
 For analyst and institutional 
  enquiries: 
 Adam Webster, Head of Management 
  Information 
   and Investor Relations                  [e-mail] 
 
 For media enquiries: 
 Alex Moorhouse, Head of Communications         [phone] 
 

About DMGT

DMGT manages a diverse, multinational portfolio of companies, with total revenues of almost GBP2 bn, that provide businesses and consumers with compelling information, analysis, insight, events, news and entertainment. DMGT is also a founding investor and the largest shareholder of Euromoney Institutional Investor PLC and ZPG Plc.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 29, 2017 02:00 ET (06:00 GMT)