AEC Education, an AIM-listed provider of education services, has acquired the remaining 70 per cent stake in IMS Professional Training Services (IMS) and Kasturi Management Consultancy (Kasturi) for £442,000.

AEC Education, an AIM-listed provider of education services, has acquired the remaining 70 per cent stake in Malaysia-based IMS Professional Training Services (IMS) and Kasturi Management Consultancy (Kasturi) for £442,000.

The deal follows AEC’s acquisition of a 30 per cent stake in Kasturi and IMS in April last year. Both businesses provide professional and business education services in Malaysia and reported combined pre-tax profits of MYR 545,488 (£100,500) in the eight months to August.

Liam Swords, chairman of AEC Education, said: ‘Both KK and IMS focus on the provision of business and professional programmes, demand for which is high in the Far East. We see good opportunities to expand their offering and take advantage of the growth of the Malaysian education sector.’

AEC reported an increase in turnover of 123 per cent to £6.1 million in 2008, while pre-tax profits were up by 170 per cent to £596,000.