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Next 15 agrees to sell digital development subsidiary Beyond
(Sharecast News) - Next 15 Group announced on Wednesday that it has agreed to sell its digital development subsidiary BYND, known as Beyond, to Qodea, a Google Cloud specialist backed by Marlin Equity Partners. The AIM-traded firm said the deal was expected to complete within two weeks.
It said the disposal was part of Next 15's ongoing simplification strategy, following the recent sale of Palladium.
Beyond specialises in digital development services for clients using the Google Cloud platform.
"The disposal of Beyond and Palladium, whose sale we recently announced, reflects our ongoing strategy to simplify Next 15, refocussing our organisation for the next phase of growth," said chief executive Sam Knights.
"I am also pleased that this deal represents a good outcome for the Beyond team."
At 1436 BST, shares in Next 15 Group were up 2.94% at 271.75p.
Reporting by Josh White for Sharecast.com.
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