Salmat sells outsourcing arm for $375m

Mystery buyer mysterious no more.

Salmat has sold its business process outsourcing arm to Fujifilm Holdings for $375 million.

The sale comes after several months of speculation over a mystery suitor, which Salmat said was circling the outsourcing division back in May.

Analysts at the time considered Australia Post to be the likely buyer.

Salmat's outsourcing services included: document scanning, archival and management; data capture; an encrypted email delivery service; and accounts payable.

The company said in a statement that a "transitional services agreement" would run for up to 18 months to ensure continuity of service.

"We have taken the business a long way in recent years, but we also recognise the next stage of BPO's development is better suited to an owner with global reach and broader outsourcing ambition," Salmat CEO Grant Harrod said.

The divestment is expected to be completed by mid-October, subject to approval by the Foreign Investment Review Board.