StockMarketWire.com - Education software and services provider Tribal has acquired Crimson Consultants, the UK's market-leading provider of customer relationship management based solutions to the education market, for a total initial consideration of £6m.

a further £4m contingent consideration is based on meeting an annual recurring revenue target.

The acquisition will be financed through existing cash resources.

Mark Pickett, Tribal's chief executive, commented: 'The acquisition of Crimson provides our current customers with complementary functionality and delivers to our vision of empowering the end to end student lifecycle.

'We warmly welcome all customers who are new to Tribal and look forward to fully supporting them with their organisation's needs into the future, and also welcome the whole Crimson team to Tribal.'




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