RedstoneConnect is to sell its Systems Integration and Managed Services divisions to Excel IT Services for £21.6m.
The company said the mature nature of the markets in which these divisions operate do not have the growth potential it sees in the remaining software business, which has been a key focus area since the acquisition of Connect IB in March 2016.
Its software capabilities are targeted at the agile working and the connected office environment, leveraging the Group's occupancy management software solution called OneSpace.
Last year the global market for occupancy analytics based software services was estimated to be worth $1.5bn with the market size forecast to grow by a compound annual growth rate of circa 25% to over $4.6bn by 2022.
RedstoneConnect CEO Mark Braund said: "Employee mobility and agile working is driving demand as commercial real estate becomes more of a user experience business.
"We believe that the global demand for workspace management solutions creates a base from which to accelerate our growth."