Classroom tech firm RM acquires Computrac

SOFTWARE AND SYSTEMS supplier RM, which deals with educational applications, has today announced its acquisition of US education technology business Computrac.

The deal will cost the UK company up to $8 million yet it is hoped that this acquisition will bring profitable business into the Group.

Computrac already sells RM's 'whole-class' teaching software but will now be integrated with RM Educational Software, the Group's established US subsidiary.

Computrac designs, supplies and installs interactive teaching solutions, such as electronic whiteboards, interactive pads, student voting devices, digital projectors and other audio-visual products, equipping over 10,000 classrooms.

RM will pay an initial cash lump of $3m and will also assume debt of $4.3m - a postponed consideration of up to $0.7m is payable in cash, subject to the achievement of certain performance conditions.

These amounts are being financed from a £25 million, five-year facility negotiated with HSBC.

Terry Sweeney, Chief Executive of RM, said, “The US represents a significant development opportunity for RM and Computrac makes an excellent addition to the RM Group.

"We've already had significant success together selling RM's software products and I'm excited by the opportunity of selling other RM products and intellectual property.”

While Kevin Talentino, CEO of Computrac, said, “We've found a great home with RM - they share our values and our commitment to providing the best technology for education and the best service for customers. Between us we've got the best whole-class teaching solutions.” µ

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