Learning Technologies to acquire games studio

AIM-listed Learning Technologies Group has agreed to buy games studio Preloaded for around an initial 2.2m pounds. The e-learning company will pay £1.6m in cash and transfer 3.125m shares by way of consideration. Up to a further £3.4m will be paid in shares depending on Preloaded's future financial performance. In the year ended March 31st 2014, Preloaded generated revenue of £1.8m and pre-tax profit of £0.57m. Its net assets at the year-end were estimated at £1.6m. Learning's Chief Executive, Jonathan Satchell, said: "This exciting acquisition will bring additional skillsets, clients and talent to the group, opening up a new avenue in the important discipline of learning games and simulations for Learning to satisfy the growing demand for e-learning. "Preloaded complements our existing businesses Epic and the recently acquired LINE and brings substantial opportunity to grow organically."The news failed to impress investors and the share price fell 2.56% to 19p by 13:00. NR