SDL plc has agreed to sell its loss making Social Intelligence business, consisting of Social Intelligence, Inc and SDL Technologies (Vietnam) Co Ltd, to Social Data Intelligence LLC. The deal for a cash consideration for £1 also sees SDL agree to a $1m unsecured loan note issued by SDIL.
It was announced in January 2016 that SDL planned to sell its non-core assets (see SDL starts to sell off non core products), which included Campaigns, Fredhopper and Social Intelligence. It completed the sale of the Campaign business to Alterian Holdings LLC in November 2016 (see Costly Campaigns divestment for SDL) and Fredhopper to ATTRAQT Group plc in January 2017 (see ATTRAQT goes Large with Fredhopper). The Social Intelligence deal, which is expected to lead to a loss on disposal of approx. £0.5m, completes SDL’s divestment plan.
Commenting on the deal, Adolfo Hernandez, CEO of SDL, said, "We are delighted to have found a home for stakeholders of the Social Intelligence Business, including employees and customers. The transaction concludes the sale of the Group’s non-core businesses."
With this deal SDL can finally get back to its traditional area of language services and technologies.
Posted by Dale Peters at '10:08'
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