RM11 May 2012 23:24
Educational software supplier RM has said that following a review of its UK operations it has decided to sell a number of its businesses, including ISIS Concepts, the sale of which has now been completed for £205,000. The sale was made to ISIS Concepts Holdings, a new company formed by Nick Topliss, who owned ISIS before it was sold to RM in 2009, and has remained as its Managing Director. Rob Sirs, former Managing Director of RM, is expected to invest in ISIS Concepts Holdings in the near future. In the financial year to date, ISIS has been loss-making. RM has agreed to provide a short-term working capital loan facility of up to £850,000, secured on freehold property and other assets valued in excess of that figure.