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Electric Word sells Radcliffe Publishing

Electric Word, the media and training group, has sold the trade assets of its loss-making subsidiary Radcliffe Publishing to Informa. 

Radcliffe Publishing is part of the firm’s health division, publishing books and products that support the professional development of doctors, managers and professionals in health.
The consideration is £1 million in cash, less a £43,000 adjustment for deferred revenue at completion. £857,000 will be payable on completion and £100,000 on the first anniversary of the completion date. 

Electric Word said the proceeds would be used for general working capital purposes and to fund investment in other areas of the business. It said Radcliffe was no longer core to its strategy.

In the year ended 30 November 2014, Radcliffe made a loss before tax of £326,000 on turnover of £1.2 million.

The value of the gross assets of Radcliffe Publishing at 30 November 2014 was £1.3 million.

Electric Word is a specialist media group supporting professional education, compliance and management. It is listed on the London Stock Exchange. 

Informa is also London listed and operates as a publisher, training provider and event organiser internationally. 

Posted on: 22/06/2015

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