StockMarketWire.com - Learning Technologies Group acquired Breezy HR for a total of up to $30m.

Breezy would be integrated within PeopleFluent, part of Learning Technologies' Software & Platforms division, Learning Technologies said.

Breezy generated revenues of US$3.6m last year and earnings (EBIT) of US$280,000. The acquisition would support LTG's strategic goal to achieve run-rate earnings (EBIT) of at least £55m by the end of 2021, the company said. 'The acquisition extends the Group's existing enterprise client-base to include a new SMB audience, with typically faster self-service sales-cycles. Since its founding in 2014, Breezy's software has managed the recruitment of 15 million candidates across 10,000 companies in 72 countries,' it added.

Under the terms of the deal, the company paid an initial $12m, with a three-year earn-out payment of up to $18m should Breezy meet targets.

At 9:12am: [LON:LTG] Learning Technologies Group share price was +4.3p at 70.3p



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