Marketing services business Salmat (ASX: SLM) has agreed sell off its contact centre arm to Five V Capital funds for $53 million by the end of April.
The divestment to funds advised by Five V is expected to be completed by 30 April.
Salmat chief executive Rebecca Lowde said the sale would free up capital so the group could invest the funds in other aspects of its business.
“The sale is in line with our strategy to focus on innovating Salmat’s core capabilities for long-term sustainability,” she said.
The contact centre sell-off was an outcome of a strategic review of the $91.8 million Salmat group, which has already seen it sell off its MessageNet and interactive businesses in the first half of this financial year.
“Selling our contact centre business will free up capital and Group resources to invest in our marketing solutions and microsourcing businesses,” Ms Lowde said.
“With this divestment, we are now more focused on driving further transformation and improvement within marketing solutions and enabling the continued success and growth of our microsourcing business.”
Microsourcing has been dubbed the third wave of outsourcing by top-ranking information systems researcher Distinguished Professor Rudy Hirschheim of Louisiana State University’s E.J. Ourso College of Business.
Definitions of microsourcing vary, but one example of the activity involves engaging an individual to more cheaply undertake a task.
Salmat will continue to provide transitional services to its contact centre off-shoot after the transaction is complete, as the business is separated from the company.
Ms Lowde highlighted the benefits of the separation for the contact centres.
“The change in ownership will allow our contact centres to continue their long history of customer-centric service and benefit from further investment to capitalise on growth opportunities,” she said.
The centres, based in Australia, New Zealand and the Philippines, provide contact solutions to blue-chip corporate and government clients, drawing upon a cloud-based technology platform and integrated voice and digital communication channels.
Five V Capital is a Sydney-based Australian fund manager which invests in businesses with leadership positions in their sectors.
The fund manager also invests in businesses with growth opportunities that are organic, international or offer opportunities to consolidate business operations.
Salmat securities closed 14 cents or 30.4 per cent up to 60c today on volumes of 228,314 shares traded, as investors get ready to bank a 1c a share dividend on 18 April.