News: U-Explore secures £2m investment from MBL Group

MBL Group plc, one of the UK's leading multi-channel distributor of home entertainment products, has announced that it has agreed to acquire a 15% stake in U-Xplore Limited, the Rotherham education specialist.


The deal is for a total consideration of £2m and as part of the agreement, MBL's Chief Executive, Trevor Allan will join the Board of U-Explore and MBL will receive fees for the management services that MBL provides, amounting to £100,000 in the first year.

U-Explore specialises in enabling schools to deliver reality based careers information, advice and guidance. Their U-Explore national school product is an innovative software solution which engages with young people through cutting edge media.

MBL is a multi-channel distributor of home entertainment products - delivering physical and digital content in-store, online and digitally.

Both parties see clear synergies in working closely together. U-Explore is keen to develop its footprint in the UK and aims to utilise MBL's proprietary technologies to take its content further than its website.

Kiosks, for example, offer U-Explore an ideal additional channel, with the opportunity to place these in schools, colleges, public buildings and libraries.

Andy Pickles, CEO of U-Explore, said: "This partnership with MBL comes at a critical time for U-Explore as we move into a significant period of projected growth which will require the business to gear up to maximise on the wealth of opportunities available to us.

"MBL brings an added level of expertise to our board, access to resources to drive the business into new markets, and the ability for both businesses to leverage their content and technology assets to further exploit new and existing markets.

"We are very excited about this partnership and look forward to the coming years where we hope to exceed all expectations with the support of MBL."

Trevor Allan, MBL's Chief Executive added: "Our partnership with U-Explore offers huge opportunities and synergies for both parties. We are leading the way in delivering content across multiple channels, and U-Explore is keen to develop its footprint to reach its consumers in the UK and internationally.

"We believe that the combination of skills and the cross-selling opportunities across our respective contact bases present a great opportunity for both MBL and U-Explore."

U-Explore website


Images: u-explore.com