Learning Technologies acquires eThink Education

(Sharecast News) - Digital learning services provider Learning Technologies has acquired eThink Education for an initial cash consideration of $20.0m.
Learning Tech snapped up the Moodle-based learning management systems provider on Monday, marking "a further step" in its goal of consolidating the Moodle market following its recent acquisition of eCreators in September.

The AIM-listed group said eThink had delivered "strong and consistent" growth in revenues and underlying earnings and added that it was well-positioned to accelerate this through joining its Open LMS business.

LTG said the acquisition was funded from cash resources and was expected to be immediately earnings accretive.

Chief executive Jonathan Satchell said: "eThink is an important addition to further build-out the Open LMS business acquired in April this year and create an industry powerhouse in the high-growth Moodle market.

"The eThink team has built a strong business delivering high levels of growth and profitability, which we expect to be further enhanced through integration with Open LMS."

As of 1020 GMT, LTG shares were up 1.89% at 161.70p.