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RM to Sell RM Integris and RM Finance Business
Monday 28 November 2022

UK-based education sector technology and resources supplier RM plc (LSE: RM) has conditionally agreed to sell the RM Integris and RM Finance Business and related assets of its principal trading subsidiary, RM Education Ltd, to The Key Support Services Ltd, the company said.

Total consideration for the sale, which will constitute a Class 1 transaction, will be up to GBP 16m in cash on a cash-free/debt-free basis and subject to customary normalised working capital adjustments.

This agreement follows the strategic review outlined earlier this year. Completion of the Sale is expected to take place during the first half of 2023.

RM said the sale executes against the previously outlined strategy to restructure the RM Technology Division and to refocus its strategy on its core Managed Services business.

RM plc is a supplier to the international education sector, with a turnover of GBP 211m and approximately 2,000 employees globally.

Established in 1973, RM provides products and services to educational institutions, exam bodies and international governments which improve, simplify and support education and learning.
Details
Date Published: 28/11/2022

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