Australia's ReadCloud rises on deal to buy Ripponlea Institute

ReadCloud

01/06/2021 03:25

** eLearning software solutions provider ReadCloud Ltd
 RCL.AX  gains as much as 2.7% to A$0.385
    ** Co to buy Australia-based vocational education and
training (VET) provider Ripponlea Institute Pty Ltd for A$1.8
mln ($1.40 mln) to expand RCL's product offering and presence in
VET-in-Schools market  urn:newsml:reuters.com:*:nASN0019DG
    ** RCL says acquisition will be satisfied via a combination
A$1.2 mln in cash and remaining in RCL shares
    ** RCL down 45.7% this year, as of last close
($1 = 1.2875 Australian dollars)

 (Reporting by Aditya Munjuluru in Bengaluru)
 ((aditya.srivastsav@thomsonreuters.com))