TORONTO, Feb. 23, 2022 /CNW/ - Pluribus Technologies
Corp. (TSXV: PLRB) ("Pluribus" or the "Company"), a
growing acquiror of small, profitable software
companies, today announced that it has created The Learning
Network ("TLN"), which integrates five of the Company's
acquisitions in the eLearning vertical under a single leadership
team and offers each portfolio company access to a range of shared
services including sales, marketing and administrative support.
"As our presence in the eLearning vertical takes on critical
mass, our strategy is focused on realizing the available synergies
to drive organic revenue growth, while also finding logical
operational efficiencies," said Richard
Adair, Chief Executive Officer of Pluribus Technologies.
"Integrating the five businesses under a single banner allows us to
go to market with a best-of-breed offering that we can cross- and
up-sell across a unified and expanded customer base, while also
creating efficiencies around common functions, including sales,
marketing and finance. Using this model also allows us to leverage
the insights and expertise of the best senior talent across the
portfolio, which in turn benefits each of the individual
businesses."
"The formation of The Learning Network allows us to draw on the
considerable software, technology and customer sector expertise
from across the eLearning portfolio and channel it to our combined
customer base, who are increasingly looking to simplify and
consolidate service provider relationships wherever possible," said
Kevin Jones, CEO of The Learning
Network. "Core to our growth strategy is our expanded solution
offering, entrepreneurial mindset and strong, experienced team that
will allow us to deliver robust solutions that we can customize to
meet the individual needs of both small-to-medium enterprise as
well as larger organizations. By providing bespoke solutions it
allows each of them to receive a high return on their software
investment."
Since March 2019, Pluribus
has acquired multiple companies in the eLearning vertical:
- The Learning Network – leading provider of continuing education
for the accounting world;
- LogicBay – technology-enabled Partner Relationship Management
and ecosystem solutions that enable organizations to build, scale,
and optimize their sales channel;
- SkilSure – competency-based, cost-effective training solutions
including apprenticeship e-portfolios, management of ongoing
employee competencies and customizable eLearning platforms;
- ICOM – bespoke learning solutions that engage learners while
also driving business growth and performance; and
- Pathways – specializing in training and development, learning
technologies and change management service.
In parallel with the creation of The Learning Network, Pluribus
has launched the www.learning.net website detailing the
comprehensive eLearning solutions offering, as well as acting as a
broader resource for those interested in obtaining additional
information about the rapidly growing eLearning market.
Pluribus Acquisition and Integration Strategy
Pluribus is focused on acquiring small, profitable technologies
companies in the eLearning, eCommerce and HealthTech verticals. Led
by experienced technology entrepreneurs that take a disciplined
approach to valuation, the Company seeks to build value both within
each acquisition and across its broader portfolio. As part of its
overall integration strategy and to drive growth, Pluribus
management:
- Retains key senior leaders within each acquired business to
help ensure a smooth transition and grow internal vertical
expertise;
- Identifies and acts on opportunities to sell an expanded suite
of solutions to complementary customer bases; and
- Leverages synergies between businesses to improve resource
allocation and further improve margins, while driving organic
growth by, when possible, centralizing common key functions such as
sales and marketing.
About Pluribus Technologies Corp.
Pluribus is a technology company that acquires small, profitable
business-to-business software companies at reasonable prices in a
range of verticals and industries. Pluribus provides experienced
sales and marketing resources, strategic partnerships and enabling
technologies including automation, self-service and artificial
intelligence/machine learning to create new revenue streams and
enable companies to grow into significant organizations in their
respective markets. For more information, please visit:
https://www.pluribustechnologies.com/.
Forward-Looking Information
Certain information in this press release constitutes
forward-looking statements under applicable securities laws. Any
statements that are contained in this news release that are not
statements of historical fact may be deemed to be forward-looking
statements. Forward-looking information in this press release
includes, but is not limited to, statements with respect to the
business plans of the Company, including the successful completion
and pace of future acquisitions, the Company management's
expectation on the growth, profitability and performance of its
current and future acquisitions, the Company's ability to realize
synergies of acquired businesses, the Company's ability realize
benefits from integrating its eLearning vertical, the Company's
strategy of retaining key personnel of acquired businesses, the
Company's ability to continue acquiring business-to-business
software companies at reasonable prices and the Company's ability
to grow its portfolio companies into significant organizations.
Forward-looking statements are often identified by terms such as
"may", "should", "anticipate", "expect", "potential", "believe",
"intend" or negatives of these terms and similar
expressions.
Forward-looking statements are based on certain assumptions,
including the Company's ability to complete acquisitions on
favorable terms; the Company's ability to manage a complex
portfolio of companies effectively; the Company's ability to
scale its management team to support a rapid pace of growth; the
Company's ability to raise sufficient financing to continue the
pace of its acquisition strategy; the Company's ability to maintain
its rapid pace of growth. Other assumptions include industry
trends, the availability of growth opportunities, and general
business, economic, competitive, political, regulatory and social
uncertainties will not prevent the Company from conducting its
business. While the Company considers these assumptions to be
reasonable based on information currently available, they are
inherently subject to significant business, economic and
competitive uncertainties and contingencies and they may prove to
be incorrect. Forward-looking information speaks only to such
assumptions as of the date of this release.
Forward-looking statements also necessarily involve known and
unknown risks, including without limitation, risks associated with
general economic conditions, including the COVID-19 pandemic,
adverse industry events, marketing costs, loss of markets, future
legislative and regulatory developments, the inability to access
sufficient capital on favourable terms, the Company's limited
operating history; ability to complete favorable acquisitions; the
software industry in Canada and
internationally, income tax and regulatory matters, the ability of
the Company to execute its business strategies, including the
ability manage a complex portfolio of companies effectively,
competition, currency and interest rate fluctuations, and other
risks.
Readers are cautioned that the foregoing is not exhaustive.
Readers are further cautioned not to place undue reliance on
forward-looking statements as there can be no assurance that the
plans, intentions or expectations upon which they are placed will
occur. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ from those anticipated.
Forward-looking statements are not guarantees of future
performance. The purpose of forward-looking information is to
provide the reader with a description of management's expectations,
and such forward-looking information may not be appropriate for any
other purpose. Except as required by law, the Company disclaims any
obligation to update or revise any forward-looking statements,
whether as a result of new information, events or otherwise.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this press
release.
Contact:
Craig
Armitage
LodeRock Advisors
investors@pluribustechnologies.com
+1 (416) 347-8954
Richard Adair
Chief Executive Officer
Pluribus Technologies Corp.
1 (800) 851-9383
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SOURCE Pluribus Technologies Corp.