Learning Tech shares fall on acquisition news

31st Jul 2015 12:33

(ShareCast News) - Shares in Learning Technologies Group fell after it said it would buy compliance specialist Eukleia in a deal worth up to £11m.The London-listed company said it would pay £6m in cash and £1.5m in new shares, as well a potential £3.5m in shares based on Eukleia's revenue performance.The cash element of the acquisition will be funded by a share raising of about 35m shares at 21p per share to raise £7.5m, the company said.Learning Tech said the acquisition would help it gain presence, expertise and market leadership in the governance, risk and compliance market.At 1157 BST shares in the e-learning specialist were down 2.13% to 23p.