Christie Group plc has disposed of its visitor attraction software business Vennersys.
Christie, which has operated for more than 125 years, is today a provider of professional & financial services, as well as stock & inventory systems & services to the hospitality, leisure, healthcare, medical, childcare & education and retail sectors.
Vennersys provides ticketing and electronic point-of-sale solutions to UK visitor attractions. As at 31st December 2024, Vennersys held gross assets of £1.43 million and generated a loss before tax and extraordinary items of £1.57m.
London-based Christie Group said its sale to Exeter-based Digital Ticketing Systems, which trades as DigiTickets, will enable it to focus investment on its core brands.
“Following changes to the board structure during 2023 we undertook a strategic review of the group’s operations,” said Simon Herrick, Christie Group chairman.
“It was decided that we would dispose of Orridge and Vennersys, the two non-core group operations, which both had long term histories of losses within the group and required more expertise, focus and investment to grow and generate profit than we could provide.
“These businesses had taken much group time and resources over many years, which can now be better spent on developing, investing in and growing a stronger group of core brands, offering a more coherent platform of unparalleled related services to our highly valued existing clients, whilst building new client relationships and expanding internationally.
“We believe that the disposal of Orridge during November 2024 and the conclusion of the disposal of Vennersys now completes a significant strategic step forward in the story of Christie Group plc.”
The deal is for an initial cash consideration of £500,000 and up to £900,000 of additional retained consideration payable within 18 months, should certain targets be met.
Completion of the sale is expected to occur no later than 31st January 2026.