Wesfarmers sells contractor software business to Achilles

• Wesfarmers is selling its Australian contractor management software business Cm3 to British firm Achilles.
• The deal value was undisclosed, with Wesfarmers expecting to record a profit upon completion.
• The divestment aims to accelerate growth for Cm3 by joining a global risk management platform.

Wesfarmers (ASX:WES) has agreed to sell its contractor risk management software firm Cm3 to British supplier Achilles.

The divestment follows Wesfarmers shifting its Blackwoods industrial unit under the broader Bunnings group banner.

"As part of the Achilles Group, Cm3 team members will join a global platform," said Blackwoods Executive Andrew Bray.

The deal remains subject to regulatory approval from the Foreign Investment Review Board before completion.

Following the announcement, the Wesfarmers share price was unchanged at $87.46.

The conglomerate previously sold its Coregas industrial gas division to Japan’s Nippon Sanso for $770 million.

Wesfarmers continues to review its asset portfolio to offload non-core businesses when suitable buyer offers arise.