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Executive chairman, Martyn Ratcliffe, continues to ‘work the plan’ at troubled education solutions firm, RM (see RM clears out old furniture and rearranges the rest) with the disposal of its Australian operations to Civica, the UK-based, internationally spread, privately held supplier of software and IT services to the public sector. Civica will pay around £900k cash for the business, which contributed £400k to RM’s pre-tax profit last year (to 30 Sept. 2010) but is currently loss-making. Civica will take over RM’s Maze product set and will act as distributor for other RM software in the A/NZ region.
Civica already has a substantial presence in A/NZ, turning over some £46m in the region last FY (also to 30th Sept. 2010), so this deal seems to make reasonable sense for both parties assuming, of course, that Civica can sort out RM Oz's profitability problems.
Civica has been on a bit of an acquisition spree of late, most recently picking up geospatial systems specialist, Innogistic (see here). The RM deal is its fourth acquisition this year.
