Tribal Group, a provider of technology systems and solutions to the education, learning and training markets, is to acquire International Graduate Insight Group Limited (“i-graduate”), an education benchmarking and student experience research business. The acquisition is expected to complete on 2 January 2013.
Tribal Group will pay n initial amount of £2.86 million on completion and up to a maximum of £7.5 million based on an earn out structure for the 3 year period ending 31 December 2015. The unaudited profit before tax of International Graduate Insight Group Limited for the year ended 31 March 2012 was £423k and the value of gross assets at that time was £1,799k.
i-graduate is an independent benchmarking and analytics group, working in partnership with institutions and education organisations to provide evidence-based information on education experience and outcomes across higher education, further education and schools markets. The business works with over 1,200 education institutions in 24 countries, receiving and analysing feedback from more than 1.3 million students of over 190 nationalities. i-graduate will join Tribal’s Services business and will strengthen the Group’s evidence-based analytics offering.
i-graduate was founded in 2005 by Will and Lindsay Archer. Will Archer will continue to lead the i-graduate business and will head up the integration of i-graduate’s offerings with Tribal’s existing financial benchmarking and analytic capabilities.
Tribal’s Chief Executive Officer, Keith Evans, commented: “Our strategic priority is to provide our customers with evidence based systems and solutions that will support the on-going improvement of educational outcomes. Quantitative and qualitative technology based benchmarking and analytics is a cornerstone of the evidence base. This acquisition will enable us to strengthen our capabilities in this exciting and emerging area, expands our product offering to our existing customers and provides increased access for our existing products to the i-graduate customer base, both in the UK and in our targeted international markets.”