Maximus Announces Divestiture in Outside the U.S. Segment

Rhea-AI Summary

Maximus (NYSE: MMS) has completed the divestiture of employment services operations in Italy, Singapore, and Canada. Angus Knight, a global provider of employment, community, and education services, has acquired the operations. Over 250 employees will join Angus Knight to ensure a seamless transition of operations for government customers. The divestiture is part of Maximus' strategy to optimize its international portfolio.

TYSONS, Va.--(BUSINESS WIRE)-- Maximus (NYSE: MMS), a leading provider of government services worldwide, announced today it completed the divestiture of employment services operations in Italy, Singapore, and Canada. The purchaser, Angus Knight, is a global provider of employment, community, and education services.

With the transaction, over 250 employees are joining Angus Knight to enable a seamless transition of operations for the respective government customers.

“This transaction represents an important step in our ongoing optimization of the Outside the U.S. portfolio to deliver consistent profitability and improve alignment with the broader Maximus strategy,” said Bruce Caswell, President and Chief Executive Officer. “We are pleased to continue our valued relationship with Angus Knight in completing this transaction, knowing they offer an excellent home for our former colleagues.”

The combined annual revenue run-rate for the three entities under Maximus was approximately $30 million.

About Maximus
As a leading strategic partner to governments across the globe, Maximus helps improve the delivery of public services amid complex technology, health, economic, environmental, and social challenges. With a deep understanding of program service delivery, acute insights that achieve operational excellence, and an extensive awareness of the needs of the people being served, our employees advance the critical missions of our partners. Maximus delivers innovative business process management, impactful consulting services, and technology solutions that provide improved outcomes for the public and higher levels of productivity and efficiency of government-sponsored programs. For more information, visit maximus.com.

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Investor Relations

James Francis

Jessica Batt

IR@maximus.com



Media & Public Relations

Eileen Rivera

media@maximus.com

Source: Maximus

FAQ

What is the company that completed the divestiture of employment services operations?

Maximus (NYSE: MMS)

Who acquired the employment services operations?

Angus Knight

How many employees will join Angus Knight?

Over 250 employees

What is the purpose of the divestiture?

To optimize Maximus' international portfolio