Livingstone advised the board of AIM-listed Twenty plc on its sale of non-core subsidiary Dataforce Interact Ltd to HOV Global Services for £9.25 million. Dataforce comprises the contact centre, BPO and fulfilment activities within Twenty. The deal forms part of Twenty’s strategy to focus solely on the data and digital marketing side of its business.
Livingstone previously advised the individual shareholders of Dataforce on the sale of the company to Twenty in 2006, and were called in by the Board after they decided to divest the operation.
“Having dealt with Livingstone when they were advising the vendors on the original Dataforce deal, we knew they were the right advisers to help us pursue our strategy”, says Ian Lancaster, Chief Executive of Twenty plc. “Livingstone’s knowledge of the contact centre space and their cross border expertise meant that they were able to facilitate a swift and attractive sale to HOV, whose headquarters are in Chennai.”
The announcement of the deal was received positively by the stockmarket with Twenty’s share price increasing 140% on the day.