leadf
logo-loader
viewLearning Technologies Group PLC
(
AIM:LTGFRA:LTG
)

Learning Technologies snaps up software group Reflektive

The digital learning group said Reflektive, which specialises in engagement and analytics tools to boost productivity, will be incorporated into its PeopleFluent talent management portfolio

Learning Technologies Group PLC - Learning Technologies snaps up software group Reflektive

Learning Technologies Group PLC (LON:LTG) said it has agreed to acquire San Francisco-based performance management software provider Reflektive Inc for US$14.2mln (£10.4mln) in cash.

The digital learning group said Reflektive, which specialises in engagement and analytics tools used by corporate teams to boost productivity, will be incorporated into LTG’s PeopleFluent talent management portfolio and provide what the firm said will be cross and up-selling growth opportunities.

WATCH: Learning Technologies Group continues on 'active pipeline' of acquisitions with eThink Education

Learning Technologies said that for its 2020 financial year Reflektive achieved revenue of around US$14mln, of which the vast majority was derived from recurring annual and multi-year contracts. While the group reported an underlying (EBITDA) loss of US$7mln in the same period, Learning Technologies said it expects Reflektive to become earnings accretive in the second half of 2021.

The acquisition is also expected to complete on January 29 and will be funded from Learning Technologies’ cash resources.

"I am delighted to announce our acquisition of Reflektive, which will join during this exciting time of resilient growth for LTG's Software and Platforms division. Reflektive takes a cutting-edge approach to performance management, matched with flagship tools that enable truly engaging continuous goal-setting within organisations”, LTG chief executive Jonathan Satchell said in a statement.

“This highly complementary acquisition will enhance the capabilities of PeopleFluent, bringing over 450 new corporate customers. Furthermore, it increases LTG's proportion of proforma recurring revenue to more than 80%”, he added.

Quick facts: Learning Technologies Group PLC

Follow
AIM:LTG

Price: 211 GBX

Market Cap: £1.66 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...

FOR OUR FULL DISCLAIMER CLICK HERE

Learning Technologies highlights return to organic revenue growth and talks...

Learning Technologies Group PLC’s Jonathan Satchell talks Proactive through its half year results for the six months ended 30 June 2021. He says the company's swift return to organic revenue growth reflects a strong and well-integrated business. Satchell says the acquisition of GP Strategies...

1 week ago

2 min read