Acquisition of PDT Global
8 February 2021
Learning Technologies Group plc
("LTG", the "Group")
(AIM: LTG)
Acquisition of PDT Global
- Expands global reach and capabilities of LTG's Affirmity business with Diversity & Inclusion training specialist
Learning Technologies Group plc , the provider of services and software for digital learning and talent management, has acquired UK-based PDT Global ('The People Development Team'), a leading provider of online Diversity and Inclusion (D&I) training solutions, for an initial cash consideration of £13.2 million.
PDT Global's founders and majority shareholders, Heather Butler and Angela Peacock, will join the leadership team of Affirmity, LTG's existing D&I business, headquartered in Irving, Texas. The integration of PDT Global dramatically expands Affirmity's global reach and capabilities within the high-growth D&I training and consulting sector.
PDT Global delivered unaudited revenue of c.£4.8 million in FY20 and EBIT of c.£2.0 million. The combination with LTG's Affirmity business is compelling and we expect PDT Global to continue its fast growth within LTG.
The acquisition, which completed on 5th February 2021, was funded from LTG's cash resources and is expected to be immediately earnings accretive. Further performance payments capped at £7.0 million are payable in cash, based on ambitious incremental revenue growth targets in each of the years ending 31st December 2021, 2022 and 2023.
Jonathan Satchell, CEO of LTG, said: "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. 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."
ENDS
Enquiries:
|
Learning Technologies Group plc Jonathan Satchell, Chief Executive Neil Elton, Chief Financial Officer
|
+44 207 832 3440 |
|
Numis Securities Limited (NOMAD and Corporate Broker) Stuart Skinner, Nick Westlake, Ben Stoop
|
+44 (0)20 7260 1000 |
|
Goldman Sachs International (Joint Corporate Broker) Bertie Whitehead, Adam Laikin
|
+44 (0)20 7774 1000 |
|
FTI Consulting (Public Relations Adviser) Rob Mindell, Jamie Ricketts, Chris Birt |
+44 (0)20 3727 1000 |
About LTG
LTG is a leader in the growing workplace digital learning and talent management market. The Group offers end-to-end learning and talent solutions ranging from strategic consultancy, through a range of content and platform solutions to analytical insights that enable corporate and government clients to close the gap between current and future workforce capability.
LTG is listed on the London Stock Exchange's Alternative Investment Market (LTG.L) and headquartered in London. The Group has offices in Europe, North America and Asia-Pacific.
About Affirmity
Affirmity provides a robust portfolio of software, services, and training solutions that help customers minimise risk and experience the positive impacts of Affirmative Action and Diversity and Inclusion in the workforce. Drawing on more than 45 years of experience, its software and team of experts guide diversity, HR, and compliance teams to easily analyse diversity across the organization, establish targets, identify gaps and insights into causes, and track progress over time.
Affirmity serves more than 1,100 organisations, including global corporations, mid-sized organisations, and small businesses.
For more information visit
affirmity.com
.
About PDT Global
PDT Global is a women-founded and led Diversity and Inclusion training and consultancy firm, based in the UK, with a global client base. Since 1998, it has delivered excellence in training across strategy, cultural change, and leadership development. In 2009, it moved these skills into the inclusion space and began making changes in the behaviours and practices of the clients it served. Today, it operates across the world, bringing leading-edge solutions for Diversity and Inclusion in multiple languages and methods.
With deep expertise in both live virtual and digital design and delivery, coupled with talented designers and facilitators, PDT Global is the perfect choice for clients seeking to create inclusion results at scale.
For more information visit pdtglobal.com .
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