Capita signs contract renewal worth up to £124 million
Professional services firm Capita has announced the signing of a learning services contract renewal with a UK financial services client. The deal is worth up to £124 million, and will see the firm provide holistic education to the client’s employees.
Jon Lewis, Chief Executive Officer of Capita, said, “This contract renewal demonstrates the strength and success of the long-term strategic partnership we have with our client… We have been able to understand and adapt to their changing needs effectively, ensuring they always have access to the skills they and their people need.”
According to Lewis, Capita has been working “closely and collaboratively” as a learning partner for the major financial services entity over a number of years. The renewal of this relationship sees Capita continue to provide a broad range of learning services to the client, as well as market insight and thought leadership. The supplied services include learning consultancy, virtual and face-to-face learning programmes, and digital and simulated learning.
The contract will be delivered by a team of 40 skilled Capita colleagues based in Reading and Poland, over the next five-and-a-half years. Through its Capita Learning business, will provide end-to-end learning services to the client in a more innovative, digital and efficient way under the renewed contract. Meanwhile, the firm is also responsible for procurement and management of any third-party learning suppliers to the client, including administrating training and the sourcing of learning professionals to deliver on client projects.
A release from Capita confirmed that the renewal with the financial services client is worth up to £123.6 million. This represents a significant win for Capita then, forming an integral part of the company’s ongoing recovery and transformation, supporting the delivery of improving financial returns.
Last year, Capita sold off a number of its assets, as the firm sought to fill a funding gap exposed by the financial crisis of 2020. This included a deal for its old education software wing worth as much as £400 million.
