Acquisition: Learning Technologies Group plc
Learning Technologies Group plc, the provider of services and technologies for digital learning and talent management, has acquired eThink Education LLC (eThink), a leading provider of Moodle-based learning management systems (LMS), for an initial cash consideration of $20.0 million (c.£14.8 million). Further performance payments capped at $16.0 million (c.£11.9 million) are payable in cash, based on revenue growth targets.
eThink is renowned in the industry for outstanding customer service and high-quality professional services and has market strength in North America, building out a greater global footprint between Open LMS, eThink and Australia-based eCreators.
Crowe's role and team
Crowe acted as the financial and tax due diligence advisors on the transaction. Our transaction services team was led by Mitesh Patelia, Chris Archer and Ed Beddows.
Client quote
“We have again been very impressed with the team at Crowe and their ability to support our growth aspirations globally with the acquisition of eThink – they also supported us on the acquisition of Open LMS business in April 2020 and eCreators in September 2020 and marks a further step in LTG's strategic goal of consolidating the Moodle market, building further complementary expertise and geographical reach into Open LMS.”
Jonathan Satchell, Chief Executive Officer, Learning Technologies Group plc
