'This disposal enables us to continue our strategy of expanding the group in the debt management and debt outsourcing markets,' chief executive Simon Beart said in a statement.
The company plans to use the proceeds for further acquisitions in the sector and to pay debt.
XKO also said it plans to change its name to reflect its focus on the revenue assurance sector.
The company will be paid 13 mln stg cash on completion, and will receive up to 1 mln stg in recurring maintenance revenues and another 1 mln stg on meeting certain sales targets. The deferred payments will be made in 2007.
The software and services division had reported pretax profit of 2.4 mln stg for 2006 on external sales of 20.1 mln stg. It had net assets of about 1.6 mln stg.
XKO also said it expects trading for the first half in line with market expectations.
