Learning Technologies Group PLC (LON:LTG) said it has acquired PDT Global, a UK-based provider online of diversity & inclusion (D&I) training solutions, for an initial cash sum of £13.2mln.
The digital learning specialist said PDT’s founder and majority shareholders, Heather Butler and Angela Peacock, will join the leadership team of its existing D&I business, Affirmity, adding that the integration of PDT “dramatically expands” its global reach and capabilities within the sector.
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LTG said the acquisition was funded from its cash resources and is expected to be “immediately earnings accretive”. The company may also make further performance payments of up to £7mln based on incremental revenue growth targets for 2021, 2022 and 2023.
For its 2020 financial year, PDT reported earnings (EBIT) of around £2mln and revenues of £4.8mln.
"I am delighted to announce our acquisition of PDT Global, which has an outstanding reputation as a trusted provider of high quality D&I learning solutions and consulting services,” LTG chief executive Jonathan Satchell said in a statement.
“It provides LTG with the ideal platform to expand our Affirmity business beyond North America to an international audience. We are thrilled to add capabilities that further empower our clients to achieve their environmental, social and governance priorities - and we look forward to seeing strong results from the combined business," he added.