Sale: Learning Technologies Group plc (LTG)
Learning Technologies Group plc (LTG), a global leader in learning and talent technologies, has sold its VectorVMS business (Vector) to PIXID Group, one of the largest vendor management platforms in Europe. PIXID Group is majority owned by Keensight Capital. The sale was for a cash consideration of $50 million on a cash and debt-free basis.
VectorVMS is a leading vendor management platform for contingent labour with operations predominantly in North America and also in the UK. For the full year ended 31 December 2023, Vector generated revenue and Adjusted EBIT of $11.4 million and $7.1 million respectively.
The sale of Vector is part of LTG's announced strategy to actively manage the portfolio, sharpening our focus on learning and talent development. The sale of Vector follows the completed disposals of Lorien Engineering Solutions and TTI in 2023.
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