Rm Regulatory News (RM.)

7 Apr 2008 07:00

RM PLC07 April 2008 7 April 2008 RM acquires stake in specialist education resources provider Inclusive Technology RM announces that, on 4 April 2008, it acquired a 25% stake in InclusiveTechnology Ltd for a cash consideration of £1m. Inclusive Technology is one ofthe UK's leading suppliers of special educational needs (SEN) and early yearsproducts and services. This investment brings further strength to RM's growingeducation resources business and complements the Group's existing SENactivities: Special Direct and SpaceKraft. Inclusive Technology is the UK market leader in the supply of SEN software,computer access devices, simple communication aids and assistive technology forlearners with physical disabilities, sensory impairments or learningdifficulties. Inclusive Technology's revenue in the year to June 2007 was £5.4m, with adjustedoperating profit of £480k. Commenting on the acquisition, Tim Pearson, CEO of RM, said: 'At a time when the BSF programme is driving significant investment in SENfacilities for new and refurbished schools, our alliance with InclusiveTechnology is particularly valuable - bringing unique products and expertise, aswell as a much closer association with the market leader.' 'It's also great news for our growing education resources business. We'vealready established a good position in the SEN market through our Special Directbusiness and the recent acquisition of SpaceKraft. Our relationship withInclusive will further strengthen our presence in this area' Martin Littler, Chairman and CEO of Inclusive Technology Ltd, added: 'BSF offers a unique opportunity to include learners with SEN in bright newbuildings, designed for them, with the right assistive technology and ICT. RMand Inclusive Technology have already enjoyed working together successfully onBSF with a number of local authorities. Our new enriched partnership shouldoffer a complete service across the whole range of ability and need in the UK -while leaving Inclusive free to develop its own special solutions for learnerswith severe and complex special needs worldwide. 'RM's 25% stake in Inclusive Technology will enable us to be partners where thiswill benefit the whole range of customers, while continuing to bring our specialskills to bear in helping the learners who face the greatest challenges.' For further information, please contact: Mike Greig/Phil Hemmings, RM plc 08450 700300Mark Antelme, Brunswick 020 7404 5959 Notes: 1. Founded in 1973, the RM Group is a leading provider of educational products and services to schools, colleges and universities, local government and central government education departments and agencies. RM works closely with educationalists to create new products, processes and technology which improve teaching and learning. RM is listed on the main market of the London Stock Exchange under the symbol RM.L, ISIN GB0002870417. 2. Inclusive Technology was founded in 1996 and became a separate company in 1998 through an MBO by its founders Martin Littler, Trish Hornsey and Roger Bates, who still run the company. It employs 30 people. 3. RM established its educational resources business through the acquisition of TTS Group in September 2004. This area of the Group's business has grown rapidly, both organically and through further acquisitions MES, Dacta and SpaceKraft. RM's SEN involvement comprises: Inclusive (software, access devices and assistive technology); Special Direct (SEN resources); and SpaceKraft (sensory environments). 4. BSF (Building Schools for the Future) is the largest single schools capital investment programme for over 50 years. It aims to rebuild or renew every one of England's 3,500 state secondary schools during the lifetime of the programme. The first six waves of the BSF programme include 150 dedicated special needs schools. This information is provided by RNS The company news service from the London Stock Exchange