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Alight Announces Agreement To Sell Payroll And Professional Services Business For Up To $1.2B

Author: Benzinga Newsdesk | March 20, 2024 09:18am

– Accelerates Transformation Toward Simplified and Focused Platform Company for Employee Wellbeing and Benefits –

– At Closing, Recurring Revenue to Increase From 84% to Over 90% and Margin Profile to Improve by Nearly 300 Basis Points –

– Raises Mid-Term Adjusted EBITDA Margin Guidance to 28% –

– New Commercial Partnership with the Divested Company –

– Expect to Reduce Net Leverage Ratio to Below Three Times –

– Increased Stock Repurchase Program by $200 Million –

– Company to Host Webcast to Discuss Transaction at 10:00 a.m. ET –

Posted In: ALIT