Castle Corporate Finance Limited (“Castle”) has advised Eintech Limited (“Eintech”) as it joins forces with Reed Assessment. Castle was approached to help review the terms of the deal and guide Eintech through the process, acting as key liaison, and project managing the transaction in a tight timescale.
Founded in 2010, Eintech is provider of the Rogo EdTech software platform, first developed by the company in 2011. The deal sees Reed Assessment’s operating company, Reed in Partnership, making a strategic investment in Eintech, bringing together Eintech’s flexible, configurable assessment and e-learning technology with the scale, infrastructure and reputation of Reed Assessment’s Test Centre network.
The new proposition covers the spectrum of organisations’ assessment needs, from online testing with remote proctoring, to in-person Test Centres for high stakes examinations, to e-portfolio for evidence-based qualifications, and tailored e-learning for course delivery.
Rhodri Thomas, Managing Director of Reed in Partnership, comments: “We are delighted to be part of Eintech’s next stage of growth and development. The Eintech team has developed innovative and scalable solutions for the assessment market. Our partnership with Eintech enables Reed Assessment to provide test owners with flexible test delivery either through our Test Centres or via Eintech’s secure remote proctoring technology.”
James Carter, CEO of Eintech, adds: “This partnership is a natural fit that brings benefits to all. Our remote learning and testing technology is already proven in over 180 countries, and thanks to the reach and dependability of Reed we can now deploy it at an even larger scale, in new testing environments and to a growing client base.
Victoria and the team at Castle CF were incredible. This was our first raise; Victoria was very supportive and her advice beforehand and throughout the process was invaluable. We had tight deadlines but Castle went above and beyond, and the commercial perspective added real value to the legal aspects of the deal, too.”
Victoria Ansell, director of Castle, added: “We were delighted to be able to support James and Eintech through this strategically important transaction. James has built a superb business with a great platform, and Reed clearly recognised this. The investment and collaboration will offer both parties great opportunities for growth in the assessment space, and beyond. I wish them all the best.”