RM Plc Announces Sale Of RM Integris And RM Finance Business To The Key

RM plc (RM.L) has conditionally agreed to sell the RM Integris and RM Finance Business and related assets of RM Education Limited to The Key Support Services Limited. Total consideration for the sale will be up to 16.0 million pounds in cash. Initial consideration of 12.0 million pounds will be paid on completion.

RM plc said the net proceeds of the sale will be used to reduce Group indebtedness and strengthen its balance sheet.

Neil Martin, CEO of RM plc, said: "This sale allows RM to better focus our resources and efforts within RM Technology to take greater advantage of the market opportunity presented by the growth in larger school groups and the increasing use of technology."

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