BT eyes £80m sale of legal software division Tikit as it focuses on full-fibre
BT is said to be lining up a sale of its £80m legal software business as it looks to focus its efforts on rolling out full-fibre broadband across the UK.
Tikit, which provides lawyers with software for time recording and case management, has been added to a list of fringe BT businesses up for sale, the Sunday Times reported.
Read more: BT to move headquarters to new City location by end of 2021
BT bought Tikit for £64m in 2012 through its retail arm, boosting its ability to sell its own IT services to the legal sector.
The planned sale comes as chief executive Philip Jansen doubles down on the telecoms giant’s efforts to build Britain’s new superfast broadband network.
Prime Minister Boris Johnson has accelerated the government’s timeline for full-fibre coverage, moving the target completion date forward from 2033 to 2025.
Last week Jansen said BT was ready to meet the new target, but added that his firm needed to make a fair return on the £30bn investment across the industry.
The chief executive also said BT would need another 30,000 engineers to help build the infrastructure.
Jansen’s comments came as the firm posted a one per cent decline in revenue in the first quarter to £5.6bn, as caps on mobile spend took their toll on its consumer division.
Read more: BT agrees £210m sale of London headquarters
BT has announced plans to shut dozens of offices across the UK, and has agreed the £210m sale of its St Paul’s headquarters. The firm will relocate to a new building in Aldgate by the end of 2021.
BT declined to comment.
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