LONDON (Alliance News) - Learning Technologies Group PLC on Friday said it has acquired digital learning company Rustici Software LLC and has bought a 30% stake in learning analytics firm Watershed Systems Inc.
Learning Technologies will pay USD26.0 million to acquire Rustici, a Nashville, US-based e-learning software company, from its founders in cash and shares. It will pay USD20.0 million in cash and USD6.0 million in shares, which will be issued at 29.19 pence per share.
In addition, the company will pay USD3.0 million to buy a 30% stake in Watershed, though this will be prior to Launch Tennessee, a local funding body, taking a stake in the business, which will dilute Learning Technologies' stake to 27.3%.
Learning Technologies expects the deals to be earnings-accretive from 2016 on and expects to complete both transactions very soon.
Shares in Learning Technologies were up 5.8% to 32.00 pence early Friday.
By Sam Unsted; firstname.lastname@example.org; @SamUAtAlliance
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