RSM advises on the transaction of edtech business Practice Labs
RSM’s Mergers and Acquisitions team has advised on the transaction of education tech (edtech) company Practice Labs Systems Ltd to ACI Learning.
Headquartered in Dartford, Practice Labs builds, hosts and maintains virtual labs for learners to practice their digital and IT skills. The offering helps users achieve IT certification, gain job-ready IT skills, build confidence and increase their employability. ACI Learning are a US based training provider in IT and Cybersecurity, who will utilise Practice Labs’ virtual labs.
Together, ACI Learning and Practice Labs will offer a platform where users can learn, practice, and prove their IT skills in real-world situations. Their award-winning performance learning solutions consist of live virtual lab environments aligned with certifications from leading vendors such as CompTIA, Microsoft, Cisco, and VMware.
ACI Learning will integrate Practice Labs’ people, content/IP, virtual lab capabilities, and customer contracts into its core business operations.
Sarah Barry, corporate finance director at RSM, commented: ‘Practice Labs is a well-established name in the sector and over the years Ricky Doyle and Mark Jeggo at Practice Labs have built a strong business that is ready for the next stage of growth with ACI Learning. The expertise will enable a stronger offering to their market and I look forward to seeing the combined businesses go from strength to strength.’
Ricky Doyle, co-founder of Practice Labs, said: ‘Going through a transaction like this takes a significant amount of dedication and effort for it to complete smoothly. Finding a partner who you can trust and rely on is crucial to the overall success of getting the deal done. Fortunately, the RSM corporate finance team ticked all the boxes, working side by side on a day-to-day basis with me providing valuable advice and guidance. This enabled me to dedicate enough time to running the business while negotiating the deal. Above all you have to work with a team you really like, Sarah and her team were amazing through the whole journey and enjoyed their company during our many calls. Would I work with RSM again? A resounding yes!’