London software company acquires equality & diversity specialist for £5.5m
London based regulatory compliance software specialist Marlowe PLC, announced it has acquired Skill Boosters, incorporated as Inclusive Learning Limited for an initial consideration of £5.5m.
Marlowe is focused on health & safety, compliance software, employment law & HR compliance, fire safety, security, water treatment & air hygiene, and occupational health services.
The company currently provides services to over 15 per cent of Britain’s commercial premises and is “increasingly attractive to customers who require a single outsourced, nationwide, provider of a comprehensive range of regulated compliance and safety services”.
Skill Boosters, established in 1999, is based in Kent and provides equality, diversity, workplace behaviour, and compliance eLearning courses to companies across the UK and internationally.
Skill Boosters serves 200 clients, with more than 95 per cent of its revenue being generated from subscription licences.
The acquisition of Skill Boosters will offer “attractive cross-sell and technology synergies” with Marlowe’s compliance software activities, of which eLearning forms a key part. It will integrate into the group’s VinciWorks brand, broadening its eLearning solution into the fast-growth markets of diversity & inclusion and workplace behaviour training.
For the year ended July 31 2021, Skill Boosters generated an operating profit of £0.7m on revenues of £1.4m. Net assets at August 31 2021 were £0.9m. The acquisition will be funded from Marlowe’s existing cash resources.
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