Embattled system builder RM has begun to make good on its pledge to trim its operations by selling off its US hardware business Computrac for £3m.
Phoenix-based audiovisual specialist Troxell Communications has acquired all the trade and assets of Computrac, which spent less than three years under RM's ownership. The Oxfordshire outfit spent a little more than £5m on the interactive classroom technology maker in 2008.
Computrac's gross assets at the time of sale are £6.6m and the business was a profitable one for RM in FY10, chipping in £1m to its pre-tax bottom line.
But RM is in the midst of a cost-cutting and restructuring drive, as unfavourable economic conditions in the public sector have hit the company hard. The system builder has been one of the biggest losers following the collapse of the Building Schools for the Future programme last summer.
The education specialist retains a presence across the pond through the RM Group US brand, which sells software and services.
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