Daily News

View All News

Volt completes sale of quality assurance testing business for $66 million

October 30, 2017

Volt Information Sciences Inc. (NYSE MKT: VISI) completed the sale of its quality assurance testing business, known as VMC, to Keywords International Ltd., a technical services provider to the global video games industry. Volt announced the $66.4 million cash deal last week, noting the sale helps it move forward as a pure-play staffing company.

VMC was a part of Volt’s technology outsourcing services and solutions segment and represented approximately 5% of Volt’s global revenue. It provides production development, QA testing and customer support to companies primarily in the video gaming and mobile industries.

“This transaction further enhances our balance sheet liquidity and financial flexibility and allowed us to utilize some of our significant tax loss carryforwards,” Volt President and CEO Michael Dean said. “With this divestiture, Volt is now a more focused, pure-play staffing company.”