Raleigh, NC (USA), September 2020 - Learning Technologies Group plc (LTG), a global leader in the high-growth workplace learning and talent industry, has entered into an agreement to acquire eCreators for an initial cash consideration of A$5.5 million (ca. £3.1 million). The proposed acquisition is subject to regulatory approval and is expected to complete before the end of October 2020.
eCreators, Australia's largest regional Moodle provider, will be integrated into LTG's market-leading Moodle business, Open LMS. The addition enhances LTG's position within the Australian market, adding significant corporate and further education clients.
Following March 2020's acquisition of Open LMS, LTG announced its ambition to drive innovation around the Moodle platform. The addition of eCreators enhances the Group's Moodle strategy to support organisations across all geographies and with a variety of requirements.
Integrating eCreators and Open LMS presents an opportunity to share features and functionality across the expanded offering, including eCreators' corporate learning-focussed Learnbook platform. By integrating with LTG, eCreators' clients will benefit from global scale with 24-hour support and additional capacity to invest in innovation. Open LMS clients In Australia will benefit from eCreators' content capability, which will be maintained as a functional unit within Open LMS. This will supplement existing capability within LTG, both continuing to service existing eCreators clients while also extending LTG's content support in APAC. eCreators’ founders, Dean Saunders and Sally Matheson, will be joining the newly expanded Open LMS leadership team as VP of Product and Head of Operations, respectively.
LTG's Chief Executive, Jonathan Satchell, said, "I am delighted that eCreators is joining LTG. I am particularly excited by its potential to integrate with and extend the capability and geographic reach of our market-leading Moodle expert, Open LMS. Our Moodle technology is highly regarded and scalable, and eCreators will further enable us to pursue the growth opportunity in the high-value Moodle market."
Open LMS' Managing Director, Phill Miller, commented, "We've been so impressed by the way that eCreators cares for its clients, which is a value that we also share. The eCreators tagline 'Love the way you learn' exemplifies the culture that they've built around customer success. Together, we will take that same passion globally."
As Open LMS' new VP of Product, Dean Saunders, added, "eCreators' position in the APAC Edtech market has been increasing at a rapid rate. We've been watching the ongoing success of LTG over recent years, and the success they've had at bringing together the right people and the right technologies is impressive. We're excited to be a part of further building the ecosystem of transformational tools within the Group for the current and future generations of learners and organisations. The combination of eCreators with Open LMS makes for the most powerful Moodle-based platform in the market."
Cash consideration at completion will be A$5.5 million (ca. £3.1 million). Further performance payments, capped at A$6.5 million (ca. £3.7 million), are payable in cash based on ambitious growth targets in each of the years ending 31 December 2021, 2022, and 2023.