Friday 11 December 2020

LTG Buys eThink Education for $20m

Learning Technologies Group has acquired eThink Education LLC ('eThink'), a provider of Moodle-based learning management systems (LMS), for an initial cash consideration of $20.0 million (c.£14.8 million).

eThink will be integrated into LTG's Open LMS business acquired in April 2020 and marks a further step in LTG's strategic goal of consolidating the Moodle market

eThink adds approx. $9.5 million revenue to LTG.

The deal was financed from LTGs cash resources with a payment at completion of $20.0 million (c.£14.8 million).  Further performance payments are capped at $16.0 million (c.£11.9 million), also payable in cash.

With the addition of eThinks 325 hosted Moodle clients, the Open LMS business now has more than 1,460 cloud-based Moodle clients, and 8,000,000 users. 


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LTG Stock market announcement

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