Financial News

  • 20 December 2013, 10:48

Hague And Coe Software Firm Put Up For Sale

A software company where William Hague, the Foreign Secretary, sat on the board following his stint as leader of the Conservative Party is mulling a sale that could value it at tens of millions of pounds.

Sky News has learnt that AMT-Sybex, a provider of enterprise software to the infrastructure and energy sectors, has appointed an advisory firm called Arma Partners to explore options including a sale.

Mr Hague will not benefit personally if a takeover of the company goes ahead since he is not an investor in AMT-Sybex, according to the Register of MPs' Interests.

Lord Coe, the Conservative Peer who led London's successful delivery of last year's Olympic Games, is a non-executive director of AMT-Sybex.

A former MP and private secretary to Mr Hague, Lord Coe has been on the software group's board since February 2011, although it is unclear whether he holds any shares in the company.

The Foreign Secretary has not sat on the board of AMT-Sybex or held any shares in the company since well before the 2010 general election, after which he was appointed to his current role in the Coalition Government.

The prospective sale of AMT-Sybex comes amid a boom in demand for enterprise software services, with private equity groups expected to be among bidders for the company if a sale process does take place.

Mr Hague is already firmly ensconced on the Cabinet Rich List, with a fortune estimated by the consultancy Wealth-X last year at 4.8m.

Sky News revealed last month that Jeremy Hunt, the Health Secretary, was in line for a 17m windfall from the sale of Hotcourses, an online education publishing company.

Talks about that deal are ongoing and are likely to result in an agreement in the coming weeks, according to insiders.

Neither AMT-Sybex nor Arma Partners returned calls seeking comment, while an aide to Mr Hague confirmed that he retained no connection to the company.