LONDON (ShareCast) - (Sharecast News) - Digital education provider Learning Technologies said on Tuesday that it will buy Moodle expert Open LMS from Blackboard Inc for $31.7m.
The company said the deal will reinforce its position as an industry leader in learning software, adding complementary expertise to its existing proprietary software solutions, through the addition of expertise in the market's leading open-source Learning Management System, Moodle.

The AIM-listed group also said it will support its strategic goal of achieving run-rate revenues of ?200m and run-rate adjusted underlying earnings of at least ?55m by the end of 2021.

Following completion, Open LMS will be run as a standalone brand within LTG's portfolio.

Chief executive Jonathan Satchell said: "I am excited to expand LTG's capabilities through the acquisition of Blackboard's market-leading Moodle expert, Open LMS.

"The corporate learning market is showing increased interest in this type of scaleable technology, and we will now have the capability to meet customer demand."

As of 1025 GMT, Learning Tech shares were up 8.53% at 140p.

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