RM plc to sell Integris and Finance business after strategic review
29 November 2022
RM plc, the leading supplier of technology and resources to the education sector which is headquartered at Milton Park at Abingdon, is selling
its RM Integris and RM Finance Business, part of its principal trading subsidiary RM Education Limited, for up to £16 million.
This move follows a strategic review outlined earlier this year by the company.
Completion is expected to take place during the first half of 2023.
The sale is being undertaken against the previously outlined strategy to restructure the RM Technology Division to refocus its strategy on its core Managed Services business and strengthen its balance sheet.
Neil Martin, Chief Executive Officer of RM, 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.
In addition to its strategic importance, the net proceeds of the sale will reduce our debt levels across the Group, thereby supporting our transformation strategy to deliver long term value for our stakeholders.
"RM Integris and RM Finance are both good products and will be well placed to develop as part of The Key, which we believe is a good outcome for our customers, employees and other stakeholders."
RM plc is a leading supplier to the international education sector, with a turnover of £211 million and approximately 2,000 employees globally.
