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Market: AIM
Sector: Media & Publishing
EPIC: ELE
Latest Price: 2.38p  (0,00%)
52-week High: 4.38p
52-week Low: 1.63p
Market Cap: 7.11M
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Electric Word
www.electricwordplc.com

Electric Word is a specialist information business that serves the sport and education sectors,  including newsletters, magazines, websites, events, books, special reports and bespoke research.

Full Electric Word profile here
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Electric Word buying software group Ikonami for up to £2.2 mln

15th Apr 2011, 8:59 am by Andre Lamberti Electric Word buying software group Ikonami for up to £2.2 mln

Specialist information publisher Electric Word PLC (LON:ELE) is buying Ikonami Ltd, a provider of software for the management of appraisals, training and professional development within the NHS, for up to £2.2 million.

The acquisition is highly complementary to Radcliffe Publishing which Electric Word purchased in November 2010 and which is focused on professional development books, journals and training in primary healthcare.

The group is paying the Ikonami shareholders Arif Ahmed and Kubair Shirazee an initial £151,250 cash to be paid over the twelve months following completion, and deferred cash based on profit performance for the year to November 2013 The total sum to be paid is capped at £2.2 million.

Ikonami reported a pretax loss of £115,921 for the year to October 31 2010 and as of that date, had gross assets of £357,261. The business will be rebranded as Radcliffe Solutions.

Electric Word also updated on trading, saying that while its Business Information Division seems to be turning the corner after the previously flagged very different market conditions in the first part of the current year, the Professional Division is still facing very challenging trading.

The Business Information Division is showing strong growth on 2010, boosted particularly by the buy-out of Electric Word’s joint venture partner's share of the iGaming Business Affiliate events and publishing activities announced in January 2011.

Organic growth is also ahead of expectations so current year profits from Business Information are expected to be significantly ahead of last year.
 
For the Professional Division, market conditions in the education sector continue to be very challenging due to uncertainty around both future funding and the practical impact on schools of policy changes that are yet to be fully understood. The contribution from the education sector is currently expected to be significantly below 2010 levels, Electric Word added.

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