eLearning firm snapped up by listed counterpart in £4.5m deal

Listed business software firm Marlowe has bought Loughborough-based DeltaNet International in a deal worth up to £4.5m.

DeltaNet, the compliance and safety eLearnign platform employs 36 staff and helps customers comply with safety, HR and business compliance standards and legislation.

For the year ended December 31 2019, DeltaNet posted EBITDA of £500,000 on revenues of £2.4m.

The initial consideration for the deal will be £3m, rising to £4.5m in targets are met.

Alex Dacre, chief executive of Marlowe, said: “The acquisition of DeltaNet broadens the Group’s expertise in health and safety and compliance and provides Marlowe with new opportunities for growth in the highly complementary eLearning market.

“DeltaNet will broaden the Group’s service capabilities to existing customers and will offer significant synergies, particularly with Ellis Whittam and Law At Work.

“Deltanet brings more than 600 new customers, including international blue-chip companies, who will be able to benefit from Marlowe’s business critical service and software. We are confident that this acquisition will generate attractive returns for Marlowe’s shareholders.”