Prospects Education Services Limited has acquired Optimus Professional Publishing Limited from Electric Word plc. for £1,512,501 in cash. A cash balance of £613,113 was left in the business. Both the consideration and cash left in the business are subject to adjustment through a completion accounts process at a later date. Optimus provides live events and online training for leaders in UK schools to support staff development and school improvement.
In the year ended 30 November 2015, Optimus made a loss before tax of £1,019,649 (which includes a charge of £725,588 towards Company central overheads, and a management charge to the Company of £177,500) on turnover of £2,908,112. The value of the gross assets of Optimus at 30 November 2015 was £2,306,398.
Optimus Education was founded in 1997 to help primary and secondary school leadership teams manage staff development efficiently and effectively, stay compliant and drive whole school improvement through a variety of conferences, events and training resources.
Andrew Thraves, Director of Education for Prospects, says: “I am delighted that we have acquired Optimus Education. I’m equally pleased that Optimus Education has chosen us as their new home.”
Andrew added: “Together we’ll be in a great position to provide schools and multi-academy trusts an even more comprehensive ‘one-stop-shop’ offer. The government talks about the importance of a school-led system as central to raising standards. By joining forces we will offer school awards and curriculum resources, in-school consultancy and training, and high-profile conferences and events for teachers and senior leaders intended to identify, showcase and help embed good practice and ‘what works’. Acquiring Optimus Education enables Prospects to provide education providers with the complete package.”
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