ECS Ltd has acquired Parity Training, the struggling training division of Parity Group Plc, an IT services group, for up to £3 million.

ECS Ltd has acquired Parity Training, the struggling training division of Parity Group Plc, an IT services group, for up to £3 million.

This is the second time Parity has negotiated the sale of its loss-making training business, which the company says is being squeezed by “clients delaying decisions on training investments”.

The Wimbledon-based IT company initially began talks with training provider Xpertise about a potential deal, valuing the training division at £4.8 million. However, the transaction fell through in August.

The proceeds of the disposal will be used to reduce the group’s borrowings and strengthen its financial position. It will also enable the company to focus on its two main divisions, resources and solutions.

Parity CEO Alwyn Welch said: “The disposal means that Parity will be in a stronger position, both financially and strategically, to focus on and grow its resources and solutions businesses, while Parity Training will be better able to continue its development as part of a company that focuses solely on training.”

Parity reported a pre-tax loss last year of £100,000 compared with profits of £1.1 million in the previous 12 months.