09:41 AM EDT, 03/20/2024 (MT Newswires) -- Alight (ALIT) said Wednesday it has agreed to sell its Professional Services and Payroll & HCM Outsourcing businesses to an H.I.G. Capital affiliate for up to $1.2 billion.

The sale includes a commercial partnership with the divested businesses and an expanded stock repurchase program of $200 million, the company said.

Alight was up more than 10% in recent trading activity.

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