Wey Education completes A21 deal

Online education provider Wey Education has completed the acquisition of UK firm Academy 21.

The £1.593m cash consideration may rise to £1,600,000 million dependant on the collection of certain debtors.

The terms of the acquisition have slightly changed since the original announcement to provide for a slightly higher payment upfront but with no earn-out.

For the year to 31 August 2017, Academy 21 made just over £1m revenue and £137,654 post-tax profit.

Wey said it would integrate the business with its own business-to-business sales force in the near future so the enlarged team can sell the group's combined product range.