Computacenter sells trade distribution unit

27th Oct 2009 08:33

IT Infrastructure services provider Computacenter has sold its trade distribution division CCD to Ingram Micro for an undisclosed sum. The disposal will reduce annualised revenue for the group by circa £80m and will have some negative impact on profits, but it is not sufficiently material to impact expectations for 2009 or 2010. The deal will involve the transfer of approximately 40 employees and zero gross assets. The unwinding of working capital used in the business and proceeds from the sale, will generate in excess of £20m of free cash over the coming few months.