RPMGlobal Holdings (ASX:RUL) agreed to sell its global advisory division to SLR Consulting Australia, for an enterprise value of AU$63 million, according to a Monday Australian bourse filing.
The firm will divest RPM Advisory Services, as well as the wholly-owned global subsidiary companies relevant to the global advisory division of RPM, with consideration to be paid in cash on completion, subject to customary adjustments.
Completion of the deal is expected in the fourth quarter of fiscal 2025. Following completion, net cash proceeds will be returned to shareholders via a capital return.
The company will also work with SLR under a transition services agreement for the continuity of back-office support functions for the advisory business.
The firm said it will now focus solely on its software business.
The firm's shares jumped over 9% in early trading on Monday.
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