Private-equity firms to buy SkillSoft for $1.1 billion
E-learning software maker SkillSoft Plc said it agreed to be acquired by a consortium of private equity firms for about $1.1 billion.
The offer of $10.80 per share in cash, made by funds owned by Berkshire Partners, Advent International and Bain Capital, was 11 percent more than SkillSoft's closing price on Thursday.
In a statement, SkillSoft said it will continue to be headquartered in Dublin, Ireland and led by the current management team, including Chuck Moran as chief executive.
The company, which had revenue of $328 million for the year ended January 2009, provides on-demand e-learning software to businesses and governments.
Shares of the company were up about 10 percent in pre-market trading. They had closed at $9.76 Thursday on Nasdaq.
(Reporting by Saumyadeb Chakrabarty in Bangalore; Editing by Vinu Pilakkott)
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