25th Apr 2018 10:34
LONDON (Alliance News) - Learning Technologies Group PLC on Wednesday said it has raised GBP85.0 million after placing 86.7 million new shares.
On Tuesday, the e-learning services provider had said it had entered a conditional agreement to acquire PeopleFluent Holdings Corp for GBP107.0 million, funded by both the money raised and debt financing.
Learning Technologies placed the 86.7 million shares at 98.00 pence per share. The stock was trading at 106.50p Wednesday morning, up 4.4%.
Chief Executive Jonathan Satchell said: "We are delighted with the level of investor interest, demonstrating very strong support for the proposed acquisition of PeopleFluent. This is a major milestone for the Learning Technologies Group strategy.
"We will now be looking to build on our track record of enhancing the businesses we acquire, with the objective of providing a truly exceptional portfolio of content, services and platforms for learning and talent management."
PeopleFluent, a provider of cloud based integrated recruiting, talent management, and compensation management solutions, posted GBP82.8 million of revenue and GBP9.2 million of adjusted earnings before interest and taxation in 2017.
Related Shares:
Learning Technologies Group