TORONTO, Feb. 23, 2022 /PRNewswire/ - Pluribus Technologies Corp. (TSXV: PLRB) ("Pluribus" or the "Company"), a growing acquiror of small, profitable software companies, today announced that it has created The Learning Network ("TLN"), which integrates five of the Company's acquisitions in the eLearning vertical under a single leadership team and offers each portfolio company access to a range of shared services including sales, marketing and administrative support.
"As our presence in the eLearning vertical takes on critical mass, our strategy is focused on realizing the available synergies to drive organic revenue growth, while also finding logical operational efficiencies," said Richard Adair, Chief Executive Officer of Pluribus Technologies. "Integrating the five businesses under a single banner allows us to go to market with a best-of-breed offering that we can cross- and up-sell across a unified and expanded customer base, while also creating efficiencies around common functions, including sales, marketing and finance. Using this model also allows us to leverage the insights and expertise of the best senior talent across the portfolio, which in turn benefits each of the individual businesses."
"The formation of The Learning Network allows us to draw on the considerable software, technology and customer sector expertise from across the eLearning portfolio and channel it to our combined customer base, who are increasingly looking to simplify and consolidate service provider relationships wherever possible," said Kevin Jones, CEO of The Learning Network. "Core to our growth strategy is our expanded solution offering, entrepreneurial mindset and strong, experienced team that will allow us to deliver robust solutions that we can customize to meet the individual needs of both small-to-medium enterprise as well as larger organizations. By providing bespoke solutions it allows each of them to receive a high return on their software investment."
Since March 2019, Pluribus has acquired multiple companies in the eLearning vertical:
- The Learning Network – leading provider of continuing education for the accounting world;
- LogicBay – technology-enabled Partner Relationship Management and ecosystem solutions that enable organizations to build, scale, and optimize their sales channel;
- SkilSure – competency-based, cost-effective training solutions including apprenticeship e-portfolios, management of ongoing employee competencies and customizable eLearning platforms;
- ICOM – bespoke learning solutions that engage learners while also driving business growth and performance; and
- Pathways – specializing in training and development, learning technologies and change management service.
In parallel with the creation of The Learning Network, Pluribus has launched the www.learning.net website detailing the comprehensive eLearning solutions offering, as well as acting as a broader resource for those interested in obtaining additional information about the rapidly growing eLearning market.
Pluribus Acquisition and Integration Strategy
Pluribus is focused on acquiring small, profitable technologies companies in the eLearning, eCommerce and HealthTech verticals. Led by experienced technology entrepreneurs that take a disciplined approach to valuation, the Company seeks to build value both within each acquisition and across its broader portfolio. As part of its overall integration strategy and to drive growth, Pluribus management:
- Retains key senior leaders within each acquired business to help ensure a smooth transition and grow internal vertical expertise;
- Identifies and acts on opportunities to sell an expanded suite of solutions to complementary customer bases; and
- Leverages synergies between businesses to improve resource allocation and further improve margins, while driving organic growth by, when possible, centralizing common key functions such as sales and marketing.
About Pluribus Technologies Corp.
Pluribus is a technology company that acquires small, profitable business-to-business software companies at reasonable prices in a range of verticals and industries. Pluribus provides experienced sales and marketing resources, strategic partnerships and enabling technologies including automation, self-service and artificial intelligence/machine learning to create new revenue streams and enable companies to grow into significant organizations in their respective markets. For more information, please visit: https://www.pluribustechnologies.com/.
Forward-Looking Information
Certain information in this press release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking information in this press release includes, but is not limited to, statements with respect to the business plans of the Company, including the successful completion and pace of future acquisitions, the Company management's expectation on the growth, profitability and performance of its current and future acquisitions, the Company's ability to realize synergies of acquired businesses, the Company's ability realize benefits from integrating its eLearning vertical, the Company's strategy of retaining key personnel of acquired businesses, the Company's ability to continue acquiring business-to-business software companies at reasonable prices and the Company's ability to grow its portfolio companies into significant organizations. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "potential", "believe", "intend" or negatives of these terms and similar expressions.
Forward-looking statements are based on certain assumptions, including the Company's ability to complete acquisitions on favorable terms; the Company's ability to manage a complex portfolio of companies effectively;the Company's ability to scale its management team to support a rapid pace of growth; the Company's ability to raise sufficient financing to continue the pace of its acquisition strategy; the Company's ability to maintain its rapid pace of growth. Other assumptions include industry trends, the availability of growth opportunities, and general business, economic, competitive, political, regulatory and social uncertainties will not prevent the Company from conducting its business. While the Company considers these assumptions to be reasonable based on information currently available, they are inherently subject to significant business, economic and competitive uncertainties and contingencies and they may prove to be incorrect. Forward-looking information speaks only to such assumptions as of the date of this release.
Forward-looking statements also necessarily involve known and unknown risks, including without limitation, risks associated with general economic conditions, including the COVID-19 pandemic, adverse industry events, marketing costs, loss of markets, future legislative and regulatory developments, the inability to access sufficient capital on favourable terms, the Company's limited operating history; ability to complete favorable acquisitions; the software industry in Canada and internationally, income tax and regulatory matters, the ability of the Company to execute its business strategies, including the ability manage a complex portfolio of companies effectively, competition, currency and interest rate fluctuations, and other risks.
Readers are cautioned that the foregoing is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ from those anticipated. Forward-looking statements are not guarantees of future performance. The purpose of forward-looking information is to provide the reader with a description of management's expectations, and such forward-looking information may not be appropriate for any other purpose. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
Contact:
Craig Armitage
LodeRock Advisors
investors@pluribustechnologies.com
+1 (416) 347-8954
Richard Adair
Chief Executive Officer
Pluribus Technologies Corp.
1 (800) 851-9383
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SOURCE Pluribus Technologies Corp.
