National law firm DWF has advised investment bank Numis Securities Limited (‘Numis Securities’), the nominated adviser and broker to In-Deed Online plc (‘In-Deed’), on the acquisition by In-Deed of leading international e-learning business Epic Group Limited (‘Epic’) and the admission of the group to trading on the AIM market of the London Stock Exchange. The acquisition constituted a reverse takeover for In-Deed.
The consideration for the acquisition was approximately £16.3 million satisfied in new shares in In-Deed and approximately £1.3 million in cash and the acquisition sees the management team at Epic become directors and major shareholders of In-Deed, renamed as Learning Technologies Group plc (LTG). LTG plans to grow both organically and through acquisition within the e-learning sector, with the intention to achieve annual revenues in the medium term of at least £50 million.
Advising Numis Securities on the deal, corporate partner Daniel O’Gorman commented: “We are delighted to advise Numis on the reverse takeover and re-admission to AIM of Learning Technologies Group plc. Being a market leader in the e-learning sector, the admission to AIM provides the Group with the opportunity to further pursue its expansion plans.”
Daniel led the DWF team advising Numis Securities on the deal supported by corporate associate Laura Hanson.
Edwin Coe (Russel Shear and Matthew Overton) advised In-Deed/LTG on its admission to AIM.
Numis Securities is a leading independent investment banking and institutional stockbroking business. It is the trading subsidiary of Numis Corporation plc, whose shares are quoted on AIM, a market of the London Stock Exchange.