PracticeAccounting FirmsTenon offloads MS Great Plains team

Tenon offloads MS Great Plains team

Struggling accountancy consolidator Tenon has sold its Microsoft Great Plains IT support team to listed IT services company Touchstone Group.

Link: Tenon loses VAT chief to Saffery Champness

The deal is worth £750,000 in cash payable over two years, and more than half of this is payment is deferred, dependent on profitability targets being met.

Chief executive Andy Raynor described the deal as part of Tenon’s efforts to ‘re-focus on core services’.

Tenon shares were last trading at 14.5p, down 3%. In November last year they were worth 50p.

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