RM PLC Acquisition of SoNET Systems Pty Ltd (1329C)
June 14 2019 - 1:00AM
UK Regulatory
TIDMRM.
RNS Number : 1329C
RM PLC
14 June 2019
RNS ANNOUNCEMENT
14 June 2019
RM PLC
("RM" or the "Group")
Acquisition of SoNET Systems Pty Ltd
RM plc, a leading supplier of IT software and services to the UK
and international education markets, has acquired SoNET Systems Pty
Ltd ("SoNET") for a consideration of GBP7.3 million.
Headquartered in Melbourne, Australia, SoNET provides Software
as a Service platforms principally to the education and government
sectors.
Acquisition highlights:
-- SoNET's e-testing software augments RM's existing e-marking
capability. This will enable RM Results to offer full end-to-end
digital assessment services in the online testing and marking of
exams to both existing and new customers.
-- This acquisition will open new market opportunities and
accelerate the growth of the RM Results division.
-- SoNET delivered revenues of GBP3m in the year to 30 April
2019 and brings several new customers to the Group in Asia Pacific
and Europe.
Commenting on the acquisition, David Brooks, Chief Executive of
RM, said:
"SoNET is a business that RM knows well and has previously
worked with successfully. This acquisition demonstrates RM's
ambition to invest in new technology and will help accelerate
international growth.
Digital assessment is a growing segment within the education
market and RM Results has established itself as a market leader.
The addition of SoNET's expertise will further strengthen our
ability to capitalise on this growth opportunity.
We look forward to welcoming the SoNET team and being able to
offer our customers a full end-to-end digital assessment
service."
Contacts:
RM plc
David Brooks, Chief Executive
Officer
Neil Martin, Chief Financial
Officer 08450 700 300
Headland Consultancy (PR adviser
to RM)
Stephen Malthouse, Chloe Francklin 0203 805 4822
Notes to Editors:
RM is a UK listed EdTech company, providing market-leading
products and services to educational institutions, exam bodies and
international governments which improve, simplify and support
education and learning.
Technology is transforming Education, and RM is uniquely
positioned to capitalise on this through its three divisions:
--RM Resources is the established provider of education
resources for early years, primary schools and secondary schools
across the UK and internationally. Our trusted brands, TTS and
Consortium, develop and supply resources to help bring the
curriculum to life for teachers and students across over 80
different countries.
--RM Results is a world-leading provider of digital Assessment
services, enabling e-marking, e-testing and the management and
analysis of educational data. Every year RM Results marks
approximately 200 million exam pages, working with world renowned
exam providers, professional bodies, universities and
governments.
--RM Education is a market-leading supplier of ICT software,
technology and services in the UK. It helps schools save time and
money and enables them to enhance the impact of technology on
teaching and learning.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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