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RM Signs LoI With LEGO Education To Form JV - Quick Facts
May 17, 2010, (RTTNews) - RM PLC (RM.L) said it signed a letter of intent with
LEGO Education which sets out the two companies’ intention to create a joint
venture which will become the exclusive distributor of LEGO Education products
to education customers across Europe.
The joint venture will take the form of a new company, to be called LEGO
Education Europe Ltd, which will be owned 51% by the LEGO Group and 49% by RM,
with day-to-day operational activities provided by RM’s Education Resources
division. As part of the proposed agreement between LEGO Education and RM, the
new company would hold exclusive European education distribution rights for LEGO
Education products, initially for ten years from January 2011.
LEGO Education Europe will build on the strong distribution network currently
operated by RM Group company DACTA. As well as continuing to provide LEGO
Education products through this channel, the new company will also establish an
online LEGO Education community, and provide further unique education support,
training and materials for the products.
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