DST Customer Communications UK has been put up for sale following the decision of its parent company to spin off its US customer communications business to Broadridge Financial Services.
‘The UK business is successful, stable and profitable and over the last two years has seen an increase of 17% in the number of communications produced and mailed along with exceptional growth in digital delivery,’ said Jeremy Walters, CEO DST Customer Communications UK. ‘We are one of a limited number of successful businesses in a tough market. We are confident in our future and will provide more details as we can.’
DST Systems is expected to close the $410 million sale of its North American Customer Communications (NACC) business to Broadridge Financial Solutions in July 2016.
Steve Hooley, chairman and CEO of DST, said, ‘The sale of the North American Customer Communications business is an important step in our strategy of focus within financial and healthcare services.’
DST estimates that the sale of the NACC business will result in after-tax proceeds of approximately $310.0 million.
