26th Jun 2024 10:09
(Alliance News) - Learning Technologies Group PLC on Wednesday said that it has entered an agreement to sell its VectorVMS business to PIXID Group for USD50 million.
Learning Technologies is a London-based digital learning and talent management company, while PIXID is a Europe-based vendor management platform, majority owned by Keensight Capital.
The sale of Vector, the firm explained, is part of its strategy to actively manage its portfolio, putting focus on learning and talent development.
The board will consider how to use the proceeds from the Vector divestiture, and will provide an update to the market in due course. The transaction is expected to close in July of this year.
Shares in Learning Technologies were trading 2.2% higher at 84.28 pence each in London on Wednesday morning.
By Holly Beveridge, Alliance News senior reporter
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