Learning Technologies Group PLC - digital learning services and technologies provider based in London - Completes acquisition of Maryland, US-based management consultant GP Strategies Corp. Funds the purchase with an GBP85 million share placing and USD305 million in debt financing, both of which were completed in mid July. Says the combined business will produce pro-forma revenue of around GBP500 million, whilst also enhancing Learning Technologies' global footprint. Expects the transaction to be significantly earnings accretive from 2022 onward.
"The acquisition of GP Strategies represents a transformational leap for our business. It creates a combination of award-winning technology, leading talent development skills and a global delivery capability. As an enlarged business, we will be well placed to enable a broadened array of corporate clients to recruit, train, motivate and retain their people in a world of increasing complexity and a rapidly changing relationship between talent and the workplace," says chief executive of Learning Technologies, Jonathan Satchell.
Current stock price: 202.50 pence
Year-to-date change: up 11%
By Scarlett Butler; scarlettbutler@alliancenews.com
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