Education Development International plc (EDI), a provider of accredited qualifications and assessment services, has bought eNVQ, a developer of a web-based assessment system.

Education Development International plc (EDI), a provider of accredited qualifications and assessment services, has bought eNVQ, a developer of a web-based assessment system.

eNVQ, which is designed to manage, assess and verify competence-based qualifications and corporate training programmes, was bought for £1.78 million.

The consideration was satisfied through almost a million shares and some £1.5 million in cash. The terms of the deal include a deferred consideration capped at £5 million. This sum is conditional upon revenues in the next four years and is to be satisfied in cash and shares.

The deal strengthens EDI’s business as a provider of technology-based qualification and assessment services. It will now sell eNVQ’s system through its business.

eNVQ’s operations will re-locate to EDI’s head office with one of its two founders joining the acquirer. The other selling shareholder has been retained as a consultant.

Oxford-based eNVQ’s system is used by more than 100 training organisations, further education colleges, companies and public authorities who operate government funded apprenticeship programmes and vocational qualifications. 

In the year to the end of May 2006, eNVQ had an un-audited pre-tax profit of £49,000 from a £443,000 turnover.