Workplace learning and talent company Learning Technologies Group (LTG) is acquiring eCreators for an initial cash consideration of A$5.5 million (£3 million) in a deal expected to complete before the end of October.
Further performance payments, capped at A$6.5 million are payable in cash, based on ambitious growth targets in each of the years ending 31 December 2021, 2022 and 2023.
Melbourne-based eCreators, Australia’s largest regional Moodle provider, will be integrated into London-headquartered LTG’s Moodle business, Open LMS, which it acquired in March. Moodle is a free and open-source learning management system.
Dean Saunders and Sally Matheson, eCreators founders, will be joining the newly-expanded Open LMS leadership team as vice-president of product and head of operations.
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.”
Saunders added: “eCreators’ position in the APAC ed tech 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 – it’s 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.”
Date published: 28 September 2020