Learning Technologies Group PLC (AIM:LTG, OTC:LTTHF) has confirmed to investors that it successfully completed the disposal of Lorien Engineering Solutions, which was agreed for a US$21.4 million (£17m) valuation on a cash and debt-free basis.
The sale to NIRAS Group, which was announced on 5 December, is part of LTG's strategy of exiting non-core areas.
It said the proceeds will be used to reduce debt and invest in sectors of its business that align with its primary focus on digital learning and talent management, as well as helping finance potential acquisitions.