The UK Cabinet Office has selected Capita Plc (a leading private sector business process outsourcing organisation) to form a joint venture to develop and commercialise the UK government’s Best Management Practice portfolio of management frameworks and methodologies (ITIL®, PRINCE2®, M_o_R®, MoP®, MSP®, MOV® and P3O®).
Capita will own 51% of the new venture with the UK government owning the remaining 49%. The new organisation doesn’t currently have a name, though it is commonly being referred to as NewCo. It will own the intellectual property of the frameworks and methodologies and be responsible for their development, as well as assume the management and support of the ecosystem of accredited service organisations – including training and consultancy.
Capita is paying the UK government an initial sum of £10m with three deferred payments over the first three years of £9.4m. The Best Management Practice portfolio currently delivers revenues of approximately £40m. It is anticipated by year 10 that this figure will triple under the management of the new joint venture.
NewCo will assume ownership of the portfolio on the 1 July 2013, becoming responsible for full operational delivery from 1 January 2014.
You can read the full press releases on this deal from the UK government and Capita on their respective websites: