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Intellego/ NetDimensions (Holdings) Ltd
- BY: Andrew Hore |
- POSTED: 28/04/2010 |
Intellego has sold back the UK distribution rights to fellow e-learning company Net Dimensions (Holdings) Ltd’s EKP range of learning management software.
The disposal is valued at £464,000, with an initial payment of £276,000. The other £188,000 is payable on an earn out basis. Intellego generated revenues of £451,000 from the software in the year to March 2010.
The cash raised should wipe out Intellego’s borrowings - depending on the cash outflow in the six months to March 2010.
Intellego will still receive commission on the sale of NetDimensions products but it will focus on training services in healthcare, retail and financial markets rather than software.
At 0.42p a share, up 0.05p, Intellego is valued at £890,000.
NetDimensions has its own sales force in the UK. At 21p a share, the Hong Kong-based learning management systems developer is valued at £5.26m.
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