The deal cost Access Intelligence £5.2 million, made up of £3.0 million in cash and the remaineder in Access Intelligence shares.  An additional consideration of up to £200,000 may be payable dependent on performance.

Michael Jackson, Access Intelligence's Executive Chairman, commented:
"Cobent offers a 'Best of Breed' compliance training platform in highly defensive markets. Cobent has a strong management team with specialist knowledge in delivering compliance solutions into FDA, FSA and HSE regulated markets.

The acquisition is in line with our plans to focus Access Intelligence as a provider of compliance solutions via software as a service.  Cobent has good synergies with our existing businesses and we look forward to leveraging the significant expertise of the team in other Group companies.

The Cobent Learning Compliance Suite offers a strong bedrock on which to build a dynamic and competitive compliance proposition, providing us with growing revenues and increasing visibility in a defensive market."

Howard Sears, CEO added, “We are naturally delighted with this announcement. The extensive synergies between Cobent and Access Intelligence will enable us to grow rapidly together and position ourselves at the forefront of compliance software solutions globally.”

Read the full press release .