Daily Mail sells admissions software business
Daily Mail & General Trust has sold the admissions software business of its education technology unit, Hobsons, to Campus Management for an undisclosed sum.
Daily Mail and General Trust A (Non.V)
270.00p
16:40 07/01/22
Media
11,983.97
08:34 23/04/24
It said the sale streamlines Hobsons, 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," it said.
The admissions business, which supplies CRM and application management software to higher education institutions and accounted for around 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.
At 0850 BST, the shares were down 0.8% to 620.50p.