Maximus Announces Divestiture In Outside The U.S. Segment; The Combined Annual Revenue Run-rate For The Three Entities Under Maximus Was ~$30M
Portfolio Pulse from Benzinga Newsdesk
Maximus (NYSE:MMS) has completed the divestiture of its employment services operations in Italy, Singapore, and Canada to Angus Knight. The combined annual revenue run-rate for the three entities under Maximus was approximately $30 million. Over 250 employees are joining Angus Knight to ensure a smooth transition.
November 06, 2023 | 10:06 pm
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Maximus has divested its employment services operations in three countries, which had a combined annual revenue run-rate of approximately $30 million. This is part of the company's ongoing optimization strategy.
The divestiture is part of Maximus's strategy to optimize its Outside the U.S. portfolio. While the divested operations had a combined annual revenue run-rate of $30 million, it's unclear what the financial impact of the divestiture will be on Maximus's overall performance. Therefore, the short-term impact on the stock price is neutral.
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