28 Apr 2010 10:00
NetDimensions (Holdings) Limited
("NetDimensions" or the "Company")
Acquisition
NetDimensions (AIM: NETD), a provider of performance, knowledge and learning management systems, announces that it has acquired the EKP (Enterprise Knowledge Platform) distribution rights business and related assets of its UK partner, Intellego Group Ltd ("Intellego"), for a total maximum consideration of £464,000 in cash.
Intellego is a UK based learning solutions provider focusing on Productivity Improvement, Compliance and Process Change. Intellego has been a partner of NetDimensions since May 2004 and under a licensing arrangement acts as a reseller in the UK for NetDimensions' Enterprise Knowledge Platform (EKP), Enterprise Content Platform (ECP)and Enterprise Assessment Platform (EAP) products. For more information visit: www.intellego.co.uk
In terms of consideration £276,000 cash will be paid immediately with up to £188,000 payable on an earn-out basis over two years. As a result NetDimensions will purchase Intellego's distribution rights for NetDimensions software products, the two sales & marketing executives that focus on Learning Management & Assessment and their customer list, as well as the EKP related hosting business. For the year ended 31 March 2010, Intellego achieved revenues of £451,000 from the business being sold.
Intellego will continue to sell or introduce EKP sales leads for NetDimensions products, but it will be much less involved in the sale, technical implementation and after-sale process.
Jay Shaw, CEO, commented: "This deal will give us direct and better access to our end-users in the UK and will have a positive impact on margins. Furthermore this acquisition will increase our UK profile and provide us with a better staffed operating entity in the UK to drive and support local sales."
Enquiries:
| NetDimensions (Holdings) Limited | Jay Shaw | Tel: +852 2122 4500 |
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| Clarence Wu | info@netdimensions.com |
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| Arden Partners plc | Fred Walsh | Tel: +44 20 7614 5917 |
| Nomad & Broker | Matthew Armitt | fred.walsh@arden-partners.com |
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| matthew.armitt@arden-partners.com |
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| Walbrook PR Ltd | Paul McManus | Tel: +44 20 7933 8780 |
| Financial Public Relations |
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| paul.mcmanus@walbrookpr.com |
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| Ben Knowles | Mob: +44 7900 346 978 |
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| ben.knowles@walbrookpr.com |