Feeds

RM buys catalogue firm

Extra curricular

  • alert
  • submit to reddit

Schools specialist RM is splashing out £11m on Teaching Technology Systems Group. TTS Group sells teaching aids to nursery, primary and secondary schools. It carries twelve catalogues focused on different curriculums and sells more than 4,000 different items.

Under the mostly cash deal, RM will take on £0.8m of TTS debt.

Tim Pearson, CEO of RM, said: "TTS operates in the same education marketplace as RM and shares many of our operational requirements - there are a lot of things we can learn from one another and many opportunities for joint activity between our two businesses.

"TTS will be a significant asset as RM transitions to a more broadly-based educational supplier. They have a well-regarded brand and a broad range of curriculum-focused resources that are complementary to RM's ICT products."

Raymond Griffiths, managing director of TTS, said his company had enjoyed good growth in the last few years but had reached "the next stage". This required more investment and expertise than TTS could manage on its own. He said online trading and business systems were two areas the firm would focus on.

TTS Group turned over £8.3m for the year ended 31 August 2003 and made an operating profit of £1.9m. TTS employs 70 people and operates from headquarters in Nottinghamshire. RM is paying £9.9m in cash with a further payment of £1.1m dependent on performance. ®

Related stories

RM posts record profit
RM wins £20m Newham gig
RM wins £30m Scottish gig

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.