The Access Group completed the acquisition of Pay360 from Capita for £150m.

The Access Group, a software developer, completed the acquisition of Pay360, a payment technology services provider, from Capita, a business process outsourcing and professional services company, for £150m. “We are pleased to have agreed the sale of Pay360 to Access. We announced our intention to sell Pay360 during our half year results, as part of our strategy to simplify and strengthen Capita. The sale is a great opportunity for the new owners to help Pay360 realise its full potential, and our colleagues at Pay360 will also benefit from the focus that this change of ownership will bring. Capita will utilise the cash proceeds of the sale to benefit our digital offerings for clients and further reduce net debt. The Pay360 senior management team and employees will remain with the business as they transfer to new ownership," Jon Lewis, Capita CEO.