Digital learning company increases revenue 39 per cent with acquisitions

A digital education group has reported a 39 per cent increase in revenue in the past year.

Learning Technologies (LTG), headquartered in London, announced today that its revenue for 2019 totalled £130.1m, up £36.2m from 2018’s £93.9m.

The company, which provides services and technologies for digital learning and talent management, attributes the revenue increase to strategic acquisitions, including PeopleFluent in 2018 and BreexyHR in 2019.

LTG has also acquired learning management system Open LMS since the year’s end, which it says is “immediately earnings enhancing”.

The company said: “Revenues increased by 39 per cent […]primarily driven by the full-year contribution of PeopleFluent (acquired May 2018) and the acquisition of BreezyHR in April 2019.

“LTG delivered like-for-like organic revenue growth, on a constant currency basis, of 6 per cent in our software and platforms division and 4 per cent in its content and services division.

“The acquired PeopleFluent business delivered revenues of $93m, ahead of previously announced expectations of c. $91m, supported by a significantly improved retention rate for its software licences and a good sales performance by Affirmity.

“The board is confident that, as guided at the time of the acquisition in 2018, the acquired PeopleFluent business is now stabilised and will return to growth as market conditions normalise.”

Jonathan Satchell, CEO of LTG, said: “Despite the current market uncertainty I’m reassured by the strong and resilient position of LTG.

“We are well positioned to further consolidate the digital learning and talent sector as opportunities emerge.”