MRI Software enters agreement to acquire Capita One - a subsidiary of Capita plc

Acquisition will expand MRI's UK public sector offering to include solutions for education, tax calculation and collection, benefits administration and housing

LONDON, July 9, 2024 /PRNewswire/ -- MRI Software, a global leader in real estate solutions and services, announces that it has entered into an agreement to acquire Capita One, a leading provider of software solutions across the UK public sector. Upon close, MRI expects that the acquisition will expand and complement its existing offering and accelerate future technology innovation for local authorities and local education. Founded in 1994, Capita One is a subsidiary of UK-listed Capita plc, a modern outsourcer supporting primarily UK and European clients with people-based services underpinned by market-leading technology.

"The acquisition of Capita One significantly enhances our ability to serve the UK public sector with flexible solutions that meet its evolving needs," said Patrick Ghilani, Chief Executive Officer of MRI Software. "MRI's AI-first approach and platform are designed to empower clients to break down information siloes, unify data across systems and deliver the best outcomes for their communities. Today's announcement ushers in new possibilities for the industry, and our teams are excited about what's ahead."

The combination of MRI and Capita One is expected to create a broad suite of solutions that help local authorities optimise the asset lifespan, reduce team workload through self-service tools, drive data-informed decisions, and manage educational touchpoints to deliver optimal outcomes.

The public sector has been subject to continuous regulatory change, driving an increased need for software solutions that enable compliance. MRI's offerings are designed to improve the living experiences for millions of residents worldwide through specialised technology that automates processes, streamlines operations, and adapts to changes in legislation.

Capita One brings additional capabilities to expand MRI's solutions for public sector customers in the UK and Northern Ireland, including:

• One Education, an integrated suite of products that enables local authorities in England, Wales and Northern Ireland to deliver positive outcomes for children and families.
• One Revenue & Benefits, a comprehensive solution allowing local authorities in England, Scotland and Wales to calculate and collect Council Tax and Business Rates and administer Benefits.
• One Housing, a multi-module platform that enables social housing providers to optimise performance through person and property-centric data, flexible process management and a 360-degree view of the customer.
• One EDMS, an integrated offering that enables a paperless office by converting paper-based forms to electronic images, allowing documents to be imported, indexed and managed across an organisation.

"This acquisition will give Capita One's clients access to a wider range of complementary technology to address the complexities of a highly regulated sector, while clients who use our other products will benefit from our new scale and pace of innovation in the future," said Jon Peart, Managing Director, Capita One. "The combined expertise of MRI and Capita One will build a bright future for the industry."

The acquisition has been unanimously approved by the boards of MRI and Capita and is expected to close by the end of August 2024, subject to regulatory approval and approval by Capita's shareholders. Capita One will continue to serve its clients as usual, without interruption.

For full details of the transaction, please see Capita Plc's market announcement here:

https://www.londonstockexchange.com/news-article/CPI/disposal/16558237

About MRI Software

MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI's open and connected, AI-first platform empowers agents, owners, operators and occupiers in commercial and residential property organisations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than six million users worldwide, including the public sector. Through innovative solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to realise their vision of building thriving communities and stronger businesses. For more information, visit www.mrisoftware.com/uk.

About Capita

Capita is a modern outsourcer, helping clients across the public and private sectors run complex business processes more efficiently, creating better consumer experiences. Operating across 8 countries, Capita's 41,000 colleagues support primarily UK and European clients with people-based services underpinned by market-leading technology. We play an integral role in society - our work matters to the lives of the millions of people who rely on us every day.

Media contacts

Platform Communications for MRI
Nana Rodaki
+44 203 832 3690
mri@platformcomms.com

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