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Learning Technologies acquires US-based eThink Education for up to $36m
StockMarketWire.com
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Digital learning technologies provider Learning Technologies said it had acquired eThink Education, a provider of Moodle-based learning management systems, for up to $36 million.
North-America based eThink would be integrated into LTG's Open LMS business acquired in April 2020.
Under the terms of the deal, the company paid an initial $20.0 million for eThink, with further payout provisions of $16.0 million based on incremental revenue growth targets in each of the years ending 31st December 2021, 2022 and 2023.
'eThink adds approximately 40 Moodle specialists to the business with strong leadership to drive forward the integration process and generate further opportunities for growth,' the company said.
At 9:26am: (LON:LTG) Learning Technologies Group PLC share price was 0p at 130.1p
Story provided by StockMarketWire.com
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