StockMarketWire.com - Digital education services provider Learning Technologies said it had agreed to acquire Open LMS from Blackboard for $31.7m.

The proposed acquisition of Open LMS would add complementary expertise to the group's existing proprietary software solutions, through the addition of expertise in the open-source learning management system, Moodle.

It would also support the company's strategic goal to achieve run-rate revenues of £200m and run-rate adjusted earnings (EBIT) of at least £55m by the end of 2021.

Open LMS would be acquired by way of a combined asset carve-out and entity acquisition from Blackboard.

The proposed acquisition was expected to complete within 30 days, the company said.




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