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(Sharecast News) - Next 15 Group said on Thursday that it will permanently close its Mach49 subsidiary as part of efforts to simplify its business, with the unit expected to cease operations before the end of the 2026 financial year.
The AIM-traded tech and data-focused consultancy said the wind-down would be conducted in an orderly manner, with Mach49 to be reported as a discontinued operation in the company's 2026 accounts.
It said its guidance for continuing operations remained unchanged, with adjusted operating profit for the year still in line with market expectations.
The company also confirmed that arbitration proceedings were under way between Next 15, certain executives, and former members of Mach49 regarding remaining earnout payments.
It reiterated its stance on "the non-payment of the remaining earnout" and said it had counterclaimed for amounts already paid.
Next 15 said it would update investors on the proceedings when appropriate, and would release its half-year results on 30 September 2025.
At 1151 BST, shares in Next 15 Group were up 1.72% at 266.5p.
Reporting by Josh White for Sharecast.com.
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