RM PLC
07 April 2008
7 April 2008
RM acquires stake in specialist education resources provider Inclusive
Technology
RM announces that, on 4 April 2008, it acquired a 25% stake in Inclusive
Technology Ltd for a cash consideration of £1m. Inclusive Technology is one of
the UK's leading suppliers of special educational needs (SEN) and early years
products and services. This investment brings further strength to RM's growing
education resources business and complements the Group's existing SEN
activities: Special Direct and SpaceKraft.
Inclusive Technology is the UK market leader in the supply of SEN software,
computer access devices, simple communication aids and assistive technology for
learners with physical disabilities, sensory impairments or learning
difficulties.
Inclusive Technology's revenue in the year to June 2007 was £5.4m, with adjusted
operating profit of £480k.
Commenting on the acquisition, Tim Pearson, CEO of RM, said:
'At a time when the BSF programme is driving significant investment in SEN
facilities for new and refurbished schools, our alliance with Inclusive
Technology is particularly valuable - bringing unique products and expertise, as
well as a much closer association with the market leader.'
'It's also great news for our growing education resources business. We've
already established a good position in the SEN market through our Special Direct
business and the recent acquisition of SpaceKraft. Our relationship with
Inclusive will further strengthen our presence in this area'
Martin Littler, Chairman and CEO of Inclusive Technology Ltd, added:
'BSF offers a unique opportunity to include learners with SEN in bright new
buildings, designed for them, with the right assistive technology and ICT. RM
and Inclusive Technology have already enjoyed working together successfully on
BSF with a number of local authorities. Our new enriched partnership should
offer a complete service across the whole range of ability and need in the UK -
while leaving Inclusive free to develop its own special solutions for learners
with severe and complex special needs worldwide.
'RM's 25% stake in Inclusive Technology will enable us to be partners where this
will benefit the whole range of customers, while continuing to bring our special
skills to bear in helping the learners who face the greatest challenges.'
For further information, please contact:
Mike Greig/Phil Hemmings, RM plc 08450 700300
Mark Antelme, Brunswick 020 7404 5959
Notes:
1. Founded in 1973, the RM Group is a leading provider of educational
products and services to schools, colleges and universities, local government
and central government education departments and agencies. RM works closely
with educationalists to create new products, processes and technology which
improve teaching and learning. RM is listed on the main market of the London
Stock Exchange under the symbol RM.L, ISIN GB0002870417.
2. Inclusive Technology was founded in 1996 and became a separate company
in 1998 through an MBO by its founders Martin Littler, Trish Hornsey and
Roger Bates, who still run the company. It employs 30 people.
3. RM established its educational resources business through the acquisition
of TTS Group in September 2004. This area of the Group's business has grown
rapidly, both organically and through further acquisitions MES, Dacta and
SpaceKraft. RM's SEN involvement comprises: Inclusive (software, access
devices and assistive technology); Special Direct (SEN resources); and
SpaceKraft (sensory environments).
4. BSF (Building Schools for the Future) is the largest single schools capital
investment programme for over 50 years. It aims to rebuild or renew every
one of England's 3,500 state secondary schools during the lifetime of the
programme. The first six waves of the BSF programme include 150 dedicated
special needs schools.
This information is provided by RNS
The company news service from the London Stock Exchange