Netex Knowledge Factory, S.A. completed the acquisition of Virtual College Limited.
December 22, 2021
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Netex Knowledge Factory, S.A. (BME:NTX) agreed to acquire Virtual College Limited on May 10, 2021. Virtual College Limited has presented a turnover of £5.6 million. As per update on June 21, 2021, Inveready will provide financing upto £6.5 million in convertible bonds to finance the transaction. CROWE acted as technical and financial due diligence provider to Netex Knowledge Factory, S.A. Once the review process is completed and the drafting of the sale contract will be submitted for approval at the Netex Knowledge Factory, S.A., General Shareholders' Meeting, which will be convened shortly. The transaction has been approved by the Board of Directors of Netex Knowledge Factory, S.A.
Netex Knowledge Factory, S.A. (BME:NTX) completed the acquisition of Virtual College Limited on December 23, 2021. The final amount of the purchase will be established as of March 31, 2022 based on different variables, date on which Virtual College closes its fiscal year. A first payment has been made for an amount of £5.5 million on account of the final price, which has been financed through a Convertible Bond with Inveready and a loan with Cofides, partners financial entities with which operations had already been executed previously.
Netex Knowledge Factory SA is a Spain-based company engaged in the software industry. The Company focuses on the development and commercialization of solutions that support digital learning in business environment and academic institutions. The Company's offer includes learningCloud and smartED. The learningCloud is a learning platform, which provides user-oriented applications that enable creating digital content, as well as learning through playing and social media, among others. The smartED is a suite of classroom-oriented solutions, such as smartClassroom, smartAuthor, smartInsights and smartFactory, which digitalize the presented content. The Company operates through offices and partners in Europe, the Americas, Asia and Australia.
NETEX KNOWLEDGE FACTORY, S.A. 
