The Channel logo

News

By | Kelly Fiveash 4th November 2008 09:53

RM kisses wannabe American cousin

Scoops up Computrac

RM has bought US-based education technology provider Computrac for £8m.

The firm said in a statement today that the company will be integrated with the RM Educational Software Inc arm of the biz, which is the group’s US subsidiary.

Computrac designs, supplies and installs interactive classroom tech products including whiteboards, audio-visual gear and digital projectors to over 10,000 schools in the southeastern US.

RM’s current international managing director will relocate from Boston to Atlanta to oversee the takeover and run the newly combined business, while Computrac’s existing senior management team will stay in place, said RM.

Computrac pulled in revenues in the year ended July 2008 of $28.8m, with operating income of $1.3m, according to RM, which under the deal will stump up an initial cash consideration of $3m and take on debt of $4.3m.

A further $0.7m deferred consideration is payable in cash, subject to the “achievement of certain performance conditions.”

RM said these amounts are being bankrolled from a £25m, five-year facility agreed with HSBC in July this year.

Shrugging off the financial crisis reverberating through Wall Street and the City, the UK-based firm’s boss Terry Sweeney said he sees the buy bringing in “significant market potential in the US.

“This acquisition is a major step forward in our international expansion, bringing critical mass to our US presence,” he said. ®

alert Send corrections

Opinion

Houses of Parliament in night-time

Andrew Orlowski

Come on everybody, let's upload all our stuff into Government by Cloud
Joe Tucci EMC
frustration_anger_irritation_annoyance pain

Felipe Costa

Pressure to perform for stock market bearing down on disties
Columns of coins in the cloud

Michael Cote

Anything that simple to use has got to be complex to set up

Features

Alistair Darling and Alex Salmond debate Scottish independence
You keep the call centres, Hamish, we'll take the banks
Internet of Things
Everyone loves those Things, just not on each others' terms
No email? No CRM? No Daily Mail iPad edition? You need a plan
Sinofsky's hybrid strategy looks dafter than ever