Anite Sells Travel Reservation Business

May 29, 2014

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Anite, which tests handset and telecom networks, said it sold its travel reservation software business to the private equity arm of Lloyds Banking Group.

Anite, whose clients include Samsung and Vodafone, sold its travel division to LDC for GBP£45 million (USD$75 million) in cash.

The company said the deal was debt free and GBP£1.7 million of the consideration will be held in escrow subject to the resolution of certain commercial considerations.

The business accounted for about 15 percent of Anite's total revenue of GBP£132.5 million in 2013.