The Channel logo

News

By | Drew Cullen 4th August 2006 10:17

Horizon scoops up e-learning biz

A little cash, a lot of shares

Horizon Technology has bought a fellow Irish IT company WBT Systems Ltd.

And it is definitely a case of jam tomorrow for WBT's owners. They get €1.15m upfront – less than the €1.5m net cash within the business. And they will get up to 1m new shares in Horizon in February 2007. At today's price, this is worth £570,000, but it could be more - Horizon’s 12-month high is 87.5p. Of course, shares can go down as well as up, and presumably there will be a lock-in to stop immediate cashing out. But that will give WBT shareholders that much more time for tax planning.

So what does WBT do? It is an e-learning company of sorts and has a million licensed users for its products for starters. But like so many enterprise software companies, trying to work out what it does from what it says it does is as simple as nailing jelly to the wall.

This is what WBT has to say about itself:

"WBT Systems is one of the leading providers of intelligent learning solutions across the globe. Its solutions help organisations to address the business issues that are imperative to success in an increasingly competitive world."

More from WBT here. ®

Correction In an earlier version of this article, we got the value of Horizon's shares wrong - by a factor of a hundred.

alert Send corrections

Opinion

Alexandre Mesguich

Change is order of day as tech giants shift strategy gears
Partnership

Frank Jennings

Confused? No problem, we have 5, no 6, no 7... lots of standards

Chris Mellor

VC sequence could end not with a bang, but a whimper
Sad man stares glumly over boxed contents of desk. Image via shutterstock (Baranq)

Features

money trap conceptual illustration
Big boys snare the unwary with too-good-to-be-true deals
Angus Highland cow
Pet carriers not wanted for whitebox stampede
FBcoldstoragearray
Sorry OpenStack and Open Compute, we're not all Facebook
Gary Kovacs, CEO of AVG. Pic: World Economic Forum
Scammy download sites? Government snooping? Run of the mill for Gary Kovacs