Electric Word, the profitable specialist publishing business steered by Julian Turner, has been on the acquisition trail once again, snapping up a further two companies for £2.05 million.

The companies in question, Incentive Plus Limited and Incentive Publishing Limited, operate in the education market, an area where Electric Word's information products have gained a strong reputation. £1.9 million will be raised in placing to meet the total cost of the deals.

Of course Electric Word is also strong in the health and other public sector areas, and has also built up an exciting presence in the sports health arena. Indeed, in January, the group extended its reach in this particular sub-sector by purchasing SportBusiness Group for £2.74 million.

All three new businesses should make meaningful contributions this year and hopefully enable Electric Word to easily surpass the profits of £451,000 it made last year to November (on sales of £6.2 million).

At £8.94 million, this business is nothing if not undervalued.