UK-based Learning Technologies Group plc (LTG), parent company of Epic, announced the acquisition of Preloaded for approximately £2.2 million.
The acquisition is part of LTG’s “buy and build” strategy to create a global e-learning leader with in excess of £50m of revenue.
LTG will pay £1.6 million in cash and 3,125,000 ordinary shares in the company, the cash coming out of LTG’s existing resources according to the RNS announcement.
Founded in 2000, Preloaded sees itself as an applied games studio with the aim of making games that improve people’s lives by helping them better understand the world around them.
The company works together with organisations across the education, entertainment, publishing, advertising and broadcasting sectors including the BBC, Channel 4, Disney and Amplify and has won a BAFTA award for its work.
Preloaded will remain an independent business unit inside LTG with the existing clients and projects remaining a top priority according to Preloaded founder Paul Canty.
“Preloaded’s acquisition means we become the game design capability of the group. Combined with e-learning capabilities of LTG’s subsidiaries (Line, Epic, Gomo), the group is set to become a formidable force in the learning technologies space. […]
What is different is we now have the support to grow and export our game with purpose to new sectors and new territories. We’ll be making some tweaks to our site and our proposition over the coming weeks, but the focus is the same – to make great games with purpose that improve people’s lives.”
In April Learning Technologies Group acquired LINE Communications, a designer of fully-blended learning solutions with particular strength in the automotive, corporate, defence and security, energy and mining, professional services and public sectors.
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