ILX Group PLC Option to acquire CareShield Limited (5602X)

TIDMILX

RNS Number : 5602X

ILX Group PLC

11 February 2013

ILX Group plc

('ILX', the 'Group' or the 'Company')

Option to acquire CareShield Limited

ILX Group plc (AIM: ILX), the AIM-quoted provider of e-learning software and business training, is pleased to announce the acquisition of an option to acquire 100% of CareShield Limited and Careshield Training Limited (collectively known as "CareShield"), the UK's leading provider of digital learning solutions in the health and social care sector, in line with the ILX Group's recently stated objectives.

Founded by Christian Greenshaw, CareShield has more than 125,000 active registered users and has provided more than 1,500,000 training courses to develop skills and compliance with e-learning solutions in the health and social care sector since 2009. CareShield will partner ILX in the field of mandatory training in the health industry with the potential to expand into new sectors.

The digital learning and technology platforms that each company is developing show potential for further adoption as highly efficient and cost-effective training solutions. Demand for project, mandatory training and digital learning is gathering pace across an already significant and growing education industry.

Under the terms of the transaction, ILX has a three-year option to acquire CareShield at a valuation based on a multiple of audited earnings. There is a minimum exercise price for the option of GBP2m and a maximum exercise price, capped at GBP6m.

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Wayne Bos, Executive Chairman and Interim CEO, ILX Group plc, said: "We are very excited to be working with Christian and his team in the area of mandatory learning in the healthcare sector. This partnership will provide CareShield with additional resource to continue its development technically and commercially, while at the same time forging a stronger position for ILX within the e-learning sector."

Christian Greenshaw, Managing Director of CareShield Limited, said: "I am highly motivated by the opportunity to work with ILX and its new management team. The Group's leading commercial position will assist our further growth and help us to expand on what we have created so far.

For further information please contact:

 
 ILX Group plc 
  Wayne Bos, Executive Chairman                020 7751 7100 
 FinnCap 
  Marc Young / Charlotte Stranner                         020 7600 1658 
 Allerton Communications                                  020 3137 2500 
  Peter Curtain                       [e-mail] 
 

ILX Group plc

ILX Group plc (www.ilxgroup.com) is a leading provider of best practice learning products and services to the private and public sectors. ILX offers a variety of accredited technology-led courses, including PRINCE2, ITIL and ISO2000, through a blend of traditional classroom, workshop and live forums and digital learning. It has developed proprietary software and is the market leader in PRINCE2.

CareShield Limited

CareShield (www.careshield.co.uk) is the UK's leading provider of online learning specific to the health and social care sector. Its range of courses help clients adhere to the growing amount of regulatory standards and stipulations, ensuring 100% compliance. CareShield has over 125,000 active users undergoing training, from individual care homes to large care groups. The courses are divided into six main sectors: adult care, child care, colleges, hospitals, learning disabilities and management.

This information is provided by RNS

The company news service from the London Stock Exchange

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