U&I Learning expects this takeover to enable it to take a substantial share of the French market, which offers excellent prospects for future growth.

Founded in 1991, HyperOffice offers a wide range of custom eLearning solutions and services that fully complement U&I Learning's current know-how. HyperOffice's main business focus is on certain vertical sectors such as industry, pharmaceuticals, distribution, and financial services. HyperOffice has also developed substantial know-how in developing online training for using software such as ERP and document-management and e-mail systems.

A few years ago, HyperOffice launched Atelier, a top-flight eLearning production system that simplifies and speeds up development of eLearning content. The company currently has a team of 27 Learning specialists and turned over 2.7 million euros in 2006, up 27% on the previous year. For 2007, it is expecting to turn over 3 million euros.

U&I Learning seeks complementary services and synergy. The acquisition of HyperOffice is fully consistent with the ambitious growth plan that U&I Learning announced when it was floated on the stock market in mid-2006. This expansion plan aims to win the company a dominant position in new geographic markets by targeted takeovers. In this context, U&I Learning is deliberately selecting firms offering services that complement its own and which each have a leading role in their respective markets. The takeover of HyperOffice will be financed partly by a bank loan and partly by a capital increase.

"The French market grew very fast in 2006, a trend that we also observe throughout the rest of Europe," explains Francis Declercq, CEO of U&I Learning. "More and more firms are discovering the added value of innovative and flexible solutions such as eLearning. In order to meet this growing demand with quality products, we have chosen the path of strategic acquisitions. We are therefore very pleased to be able to build our presence in France by teaming up with a market leader such as HyperOffice."