Wesfarmers Agrees to Sell Cm3 Contractor Management Software Business to Achilles

MT Newswires Live

Jul 24

Wesfarmers (ASX:WES) agreed to sell Cm3, its Australian contractor management software business within the Blackwoods Group of its Bunnings division, to UK-based supply chain risk and performance management company Achilles, according to a Friday statement by the company.

The company did not disclose the financial terms of the deal but said it expects to recognize a gain from the sale upon completion of the transaction, pending approval from Australia's Foreign Investment Review Board.

The company's shares fell past 1% in recent Friday trade.

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