Kansas City-based DST Systems has been shopping its customer communications division, according to a Bloomberg report citing people familiar with the matter. A deal could fetch as much as $500 million, Bloomberg reports.
The division, formerly called DST Output, employs about 4,100 people, or roughly 30 percent of the company’s workforce. It’s also responsible for approximately 30 percent of DST’s revenues, or about $600 million.
DST specializes in data processing and management for the financial and health care sectors. The division in question handles distribution of communications materials to clients of DST’s customers.
The company reportedly hired a financial adviser in recent months to identify potential buyers for the division. DST declined to comment on the report.
Read more: Kansas City Star