Capita acquires majority stake in ITIL and PRINCE2

AXELOS has been revealed as the name of the new joint venture between Capita and the Cabinet Office set up to manage the best management practice training tools and accreditations, including PRINCE2, and ITIL.

AXELOS will deliver and commercialise the Government's portfolio of best management practice training tools and services and create a growth business in which both parties will share returns.

Capita and the Cabinet Office have established a 51:49 per cent stake in the new organisation that will own the intellectual property (IP) of this portfolio of products and assume the management and support of the ecosystem of accredited service organisations.

Capita is paying the Cabinet Office an upfront cash payment of 10m and three deferred cash payments of 9.4m over the first three years for its 51 per cent shareholding.

Francis Maude, minister for the Cabinet Office said: "We are committed to getting Britain ahead in the global race, which is why we want to exploit these hidden gems and use the profits to protect our front line public services.

"It's a great endorsement of the civil service that major companies use PRINCE2 and ITIL, but business expertise and investment is needed to develop them commercially."

The joint venture assumed ownership and management of the current portfolio on 1 July 2013 with the aim to be full operational from 1 January 2014.

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