Regional publisher National World has recently announced the sale of a software company that was acquired as part of a takeover deal last year. When National World purchased Express & Star publisher MNA Media in September for £11.5m, the deal also included the MNA’s technology subsidiary Press Computer Systems.
The widely-used software company, PCS, has now been sold to US-based tech giant Naviga for £3.5m. National World chairman David Montgomery expressed confidence in Naviga’s ability to develop the PCS business, stating that they are best placed to continue serving National World’s modernization and automation needs for the long term.
As part of the agreement, National World will have access to Naviga’s software services for the next five years, with the cost covered by the £3.5m consideration from the sale. This means that National World will not have to pay for the services for approximately four years.
In addition to the Express & Star, Shropshire Star, and PCS, last year’s MNA deal also included a variety of paid-for and free weeklies, farming and lifestyle magazines. The sale of PCS marks a strategic move for National World as they focus on their core expertise in the newspaper industry.