Learning Technologies acquires diversity training provider PDT
By Josh White
Date: Monday 08 Feb 2021
(Sharecast News) - Digital learning and talent management software company Learning Technologies Group has acquired UK-based online diversity and inclusion training provider PDT Global, it announced on Monday, for initial cash of £13.2m.
The AIM-traded firm said PDT Global's founders and majority shareholders, Heather Butler and Angela Peacock, would join the leadership team of its existing diversity and inclusion business Affirmity, based in Irving, Texas.
It said the integration of PDT Global would "dramatically expand" Affirmity's global reach and capabilities within the high-growth diversity and inclusion training and consulting sector.
PDT Global delivered unaudited revenue of £4.8m in the 2020 financial year, and EBIT of around £2m.
The combination with LTG's Affirmity business was described by the board as "compelling", with the company expecting PDT Global to continue its fast growth within Learning Technology.
It said the acquisition, which completed on 5 February, was funded from its cash resources and was expected to be immediately earnings accretive.
Further performance payments capped at £7m would be payable in cash, based on ambitious incremental revenue growth targets in each of the years ending 31 December 2021, 2022 and 2023.
"I am delighted to announce our acquisition of PDT Global, which has an outstanding reputation as a trusted provider of high quality diversity and inclusion learning solutions and consulting services," said chief executive officer Jonathan Satchell.
"It provides Learning Technologies 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."
At 1111 GMT, shares in Learning Technologies were up 2.41% at 178.4p.
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