By Rory Gallivan
LONDON--Shares in U.K. imaging technology group OMG PLC (OMG.LN)
jumped Friday after it said it will sell its defense software
business to a unit of aerospace and defense giant Boeing Co. (BA)
for $25 million.
OMG will pay 5.1 million pounds ($7.6 million) to shareholders
through a special dividend following the sale of the business,
which it said generated unpredictable revenue and required
continuous investment.
The sale leaves OMG with Vicon, a motion capture technology
business that helped create the recent movie Paddington,
infrastructure management software business Yotta and wearable
camera technology arm OMG Life.
Chief Executive Nick Bolton told Dow Jones Newswires the company
may also use some of the sale proceeds to invest in the business or
make acquisitions if opportunities arise.
"The disposal improves the group profile for an excellent
price," said analysts at N+1 Singer, OMG's research client.
At 1122 GMT, its shares were up over 13%, at 47 pence valuing
the company at GBP52.7 million.
-Write to Rory Gallivan at rory.gallivan@wsj.com; Twitter:
@RoryGallivan
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