UK EdTech firm Learning Technologies will become the latest company to leave the London Stock Exchange after a $1 billion acquisition was agreed.
US private equity firm General Atlantic has agreed to buy the AIM-listed provider of corporate training tools including mobile apps and videos in a deal worth £802.4 million.
LTG shareholders will receive 100 pence per share in cash, representing a 34% premium to its last closing price.
London-headquartered LTG, which counts corporate firms and governments among its clients, has seen a 12% fall in interim revenues.
Its business has been affected by the rapid evolution of generative artificial intelligence while companies are also said to be turning away from custom content creation to reduce costs.
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LTG’s share price peaked around 235p in September 2021. It climbed on the news of the potential deal yesterday from 92p to around 98p.
General Atlantic also counts Duolingo, Unacademy and Kahoot! in its portfolio.