TIDMLTG

RNS Number : 2349M

Learning Technologies Group PLC

20 January 2021

20 January 2021

Learning Technologies Group plc

("LTG", the "Group")

(AIM: LTG)

Agreed acquisition of Reflektive

   -      Agile performance management software expands PeopleFluent's capabilities 
   -      Highly complementary acquisition provides flagship engagement and analytics tools

Learning Technologies Group plc, the provider of services and technologies for digital learning and talent management, has agreed to acquire Reflektive Inc ("Reflektive"), a leading performance management software provider, from a group of institutional investors for a cash consideration of $14.2 million (c.GBP10.4 million).

Headquartered in San Francisco, Reflektive specialises in engagement and analytics tools. It offers a collaborative goal setting, continuous feedback and analytics platform used by corporate teams and individuals to provide measurable results for boosting productivity, engagement, and retention. Reflektive will join LTG's PeopleFluent business, integrating its solution with the existing PeopleFluent talent management portfolio. The combination with LTG's other software solutions provides opportunities for cross-sell and upsell-led growth.

Reflektive achieved revenue of c.$14 million in FY20, of which the vast majority was derived from recurring annual and multi-year contracts. Reflektive generated an EBITDA loss of c.$7 million in the same period but LTG expects Reflektive to become earnings accretive in H2 2021 and align with its typical software division margins by early 2022.

The acquisition, which will complete on 29 January 2021, is to be funded from LTG's cash resources.

Consideration of $14.2 million (c.GBP10.4 million) at completion will be subject to customary price adjustments.

Jonathan Satchell, Chief Executive of LTG, said:

"I am delighted to announce our acquisition of Reflektive, which will join during this exciting time of resilient growth for LTG's Software and Platforms division. Reflektive takes a cutting-edge approach to performance management, matched with flagship tools that enable truly engaging continuous goal-setting within organisations. This highly complementary acquisition will enhance the capabilities of PeopleFluent, bringing over 450 new corporate customers. Furthermore, it increases LTG's proportion of proforma recurring revenue to more than 80%."

ENDS

Enquiries:

 
 Learning Technologies Group plc 
  Jonathan Satchell, Chief Executive              +44 (0)20 7402 
  Neil Elton, Chief Financial Officer                       1554 
 Numis Securities Limited (NOMAD and Corporate 
  Broker)                                         +44 (0)20 7260 
  Stuart Skinner, Nick Westlake, Ben Stoop                  1000 
 Goldman Sachs International (Joint Corporate 
  Broker)                                         +44 (0)20 7774 
  Bertie Whitehead, Adam Laikin                             1000 
 FTI Consulting (Public Relations Adviser)        +44 (0)20 3727 
  Rob Mindell, Jamie Ricketts, Chris Birt                   1000

About LTG

Learning Technologies Group plc (LTG) is a leader in the growing workplace digital learning and talent management market. The Group offers end-to-end learning and talent solutions ranging from strategic consultancy, through a range of content and platform solutions to analytical insights that enable corporate and government clients to close the gap between current and future workforce capability.

LTG is listed on the London Stock Exchange's Alternative Investment Market (LTG.L) and headquartered in London. The Group has offices in Europe, North America, South America and Asia-Pacific.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACQSFUESUEFSELF

(END) Dow Jones Newswires

January 20, 2021 02:00 ET (07:00 GMT)

Grafico Azioni Learning Technologies (LSE:LTG)
Storico
Da Mar 2024 a Apr 2024 Clicca qui per i Grafici di Learning Technologies
Grafico Azioni Learning Technologies (LSE:LTG)
Storico
Da Apr 2023 a Apr 2024 Clicca qui per i Grafici di Learning Technologies