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LTG creates UK market leader in e-learning
Apr 11, 2014

Crowe Clark Whitehill’s transaction support team led by Stephen Bullock, Mitesh Patelia and James Jupp provided financial due diligence services to its client Learning Technologies Group Plc (LTG) as part of LTG's 'buy and build' strategy to create a global leader in e-learning.

LTG has announced it has agreed to acquire the entire issued share capital of Line Communications Holdings Limited (LINE), a business that has a leading reputation as a designer of fully blended learning solutions, for a consideration of £9 million of which £5.1 million will be paid in cash and £3.9 million in new LTG shares.

The acquisition enables LTG to combine LINE with its existing company Epic to form the UK market leader in the e-learning custom content market. The combined business is expected to meet client demand for complex global learning solutions and give access to high value strategic contracts. The acquisition significantly expands LTG's scale, capabilities, and client base and creates a broader product platform especially in multi-device learning.

The enlarged group will have approximately 250 staff based in UK offices in London, Brighton and Sheffield and overseas in Zurich, New York and Rio de Janeiro. The senior management team of LINE will remain with the business.

The cash element of the acquisition consideration was funded from part of the proceeds of a placing of new shares to raise £8 million. The surplus funds will be used to finance future acquisitions, to further the Group's organic growth strategy, and for general corporate purposes.

Stephen Bullock, partner at Crowe Clark Whitehill said:
“We are delighted to have supported LTG through this transformational acquisition and we very much look forward to working closely with the team during the next phase of the group’s development."

Jonathan Satchell, Chief Executive Officer of LTG said:
"The Crowe Clark Whitehill team have given us great service and impressed us once again – thank you very much."