July 15, 2024

Clarity completes Agiito acquisition

Clarity has completed its acquisition of Agiito and Evolvi, the B2B rail ticketing platform, from Capita.

The deal, announced in August, has been finalised following National Security and Investment Act approval.

The business will be led by the combined Executive Leadership teams from both businesses, headed by Pat McDonagh as CEO.

There will be announcements about changes to the leadership teams next week but McDonagh said Agiito CEO Donna Fitzgerald would remain “a key member of my team”.

“We’re delighted to have completed the acquisition and I’m looking forward to working with the new combined team to create something extraordinary,” he said.

When the acquisition was announced in the summer, Capita said the sale of both business was at an “enterprise value of £36.5m on a cash free, debt free basis”.

Manchester-based Clarity and Derby-based Agiito each have around 400 staff and around 30 people work at Evolvi.

“We’re laser-focused on delivering for our customers and that will be our first priority over the coming months as we begin integrating the businesses. We will take our time and ensure the benefits of this deal are delivered to our combined customer base; something we believe to be a truly unique and powerful offering to the market,” said McDonagh.

Agiito will eventually be rebranded under the Clarity name, but McDonagh told The Business Travel Magazine: “We’re in the process of working that out. There will be no immediate change and we need to ensure we instil the values and ethos of both brands in the brand. That takes time.”

He said the response from the clients of both TMCs has been “very positive”.

“They’re excited by the opportunities for technology and reassured by our well-resourced and considered approach to integration,” added McDonagh.