pounds 16m sale of PSL

Tuesday 04 August 1998 19:02 EDT

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pounds 16m sale of PSL

SKILLSGROUP, the information technology company, has sold its Unix products distribution business, PSL, to Apax Partners and the PSL management team for pounds 16m.

Skillsgroup said the move was in line with its strategy of focusing on higher value, skills-based activities. Of the total, pounds 15.5m will be paid in cash on completion, with pounds 500,000 deferred but becoming payable in the event of an eventual successful resale or flotation of PSL by the new owners.

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