Subsidiary MPS Interactive Systems has agreed to acquire 65% stake in Liberate Group

According to a regulatory filing issued on August 29, MPS Interactive Systems, a division of publishing solutions provider MPS Ltd, would purchase a 65 percent ownership in each of the four companies of the Australian digital learning solutions company Liberate Group.

The purchases were made for 9.32 million AUD, which is about equal to Rs. 49.5 crore. 

The remaining 35 percent shareholding will be acquired by MPS Interactive in subsequent tranches, "based upon valuation methodology as agreed under the transaction documents", the exchange filing added.

The four entities that are targeted to be acquired are as follows:  Liberate Learning Pty Ltd (Australia), Liberate eLearning Pty Ltd (Australia), App eLearn Pty Ltd (Australia), and Liberate Learning Limited (New Zealand).

"eLearning has been our fastest-growing business, and the acquisition of Liberate Group furthers our momentum. We stay committed to our recently modified acquisition playbook that focuses on growing businesses that add tremendous value and synergies to MPS," said Rahul Arora, chairman and CEO of MPS Ltd.

Source: Media Reports