Rm Regulatory News (RM.)

9 Jun 2006 07:00

RM PLC09 June 2006 9th June 2006 RM to acquire Australian education management software provider CAZ Software RM plc announces that it is to acquire CAZ Software, a leading provider ofeducation management software to schools and government education departments inAustralia, for a maximum consideration of A$3.0m (£1.2m). Following the acquisition CAZ Software will become part of RM Asia-Pacific PtyLtd., an existing RM Group company based in Perth, Western Australia. Themajority of CAZ Software's staff will join RM Asia-Pacific and will continue tosupport and develop Maze (CAZ Software's existing product range). RM Asia-Pacific already has a strong position providing a range of educationmanagement systems to 900 school customers under two state-wide contracts. Withthe addition of CAZ Software's Maze product and its customer base of 2,600schools, RM will become the clear leader in the Australian education managementsoftware market. RM's intention is to optimise the development of both productranges as part of a broader education enterprise system. CAZ Software's turnover in the year to 30 June 2005 was A$4.5m (£1.8m), with anoperating profit of A$0.5m (£0.2m). RM will pay an estimated initialconsideration of A$2.5m (£1.0m) and a further consideration of A$0.5m (£0.2m)after 12 months. In addition, RM will assume estimated net debt of A$0.8m(£0.3m) Commenting on the acquisition, Tim Pearson, CEO of RM, said: "Over recent months we've been exploring a number of opportunities for thedevelopment of our education management software business. As well as thisexpansion in Australia, we've also launched IntegrisG2, an innovative newgeneration of Web-based school management information systems. "CAZ Software shares RM's commitment to providing innovative technology thathelps teachers to teach and learners to learn. CAZ will make a great addition tothe RM Group, providing us with significant scale in the Australian educationmanagement software market - the combination of products, customers andgeographical coverage makes us the clear market leader." - Ends - For further information, please contact:Mike Greig/Phil Hemmings, RM plc 08709 200200 Fiona Laffan/Mark Antelme, Brunswick 020 7404 5959 Notes to Editors: The RM Group is a leading provider of educational products and services toschools, colleges and universities, local government and central governmenteducation departments and agencies. Founded in 1973, RM works closely witheducationalists to use new products, processes and technology to improveteaching and learning and is recognised as a leading innovator in theeducational information and communications technology (ICT) arena. RM, through its business School Management Solutions, provides educationmanagement software products to 4,000 schools in the UK. School ManagementSolutions has recently launched IntegrisG2, a Web-based school managementproduct which uses a centrally managed and hosted database to remove therequirement for individual schools to maintain and support their own databaseserver. RM Asia-Pacific was established in 1999 to sell and support RM's Integris rangeof education management software products in Australia and New Zealand. It alsosupplies RM Easiteach and Textease educational software in the Asia Pacificregion through a national dealer network. CAZ Software is the trading name of CAZ Unit Trust, for which Karmet Pty Ltd isthe sole trustee. RM will acquire all of the units of CAZ Unit Trust and all theshares of Karmet Pty Ltd. CAZ Software employs 30 people and is based in Perth, Western Australia. It wasfounded 28 years ago as a software development company providing schooltimetabling products. Its flagship product is Maze, an innovative softwarepackage providing student record, academic reporting, timetabling, developmentplanning and financial and payroll systems for schools. As well as schools andeducation departments in Australia, CAZ Software in Australia also has importantcustomers in China, Singapore and other Asia Pacific countries. This information is provided by RNS The company news service from the London Stock Exchange