The latest announcement is out from Alight (ALIT).
On March 20, 2024, Alight, Inc. announced a significant transaction with Axiom Buyer, LLC, an affiliate of H.I.G. Capital, to sell its Professional Services and Payroll & HCM Outsourcing businesses for up to $1.2 billion, aiming to streamline operations and focus on growth opportunities. This strategic move is expected not only to help Alight reduce debt but also to potentially return capital to shareholders. The deal, subject to regulatory approvals, is poised to reshape Alight’s business landscape and is part of a broader alignment with the company’s mid-term financial goals, which includes an authorized repurchase of up to $248 million of its Class A common stock to bolster shareholder value.
See more insights into ALIT stock on TipRanks’ Stock Analysis page.
