Skillsoft PLC, a provider of Internet-based corporate training software has agreed to be bought out by a group of private equity firms for $1.1 billion, a price lower than last months trading prices.
The group of investors includes Berkshire Partners LLC, Advent International Corp and Bain Capital Partners LLC, who will pay $10.80 per American Depositary Share, still a 9.6% premium from Thursday’s closing price.
After the announcement the stocks price was slightly above that pricing at $10.99, a 52 week high for the company.
Chief Executive Officer Chuck Moran told the WSJ:
“We believe the transaction is good for our shareholders as the offer represents an attractive premium relative to our trading history.”
That premium? 49% above the average closing price of SkillSoft’s ADS over the last five years.
The company will remain based in Dubai, with current management expected to stay in place. With higher than expected 3rd quarter earnings and a good lookout for 2010, it looks like SkillSoft is headed in the right direction.
More From Our Independent Writers!
-
Kraft Agrees To Buy Cadbury With $18.9 Billion Deal
-
Disney Buys Marvel Comics for $4 Billion. Mickey Mouse Still Deemed Uncool
-
Dell Agrees To Buy Perot Systems Corp. For $3.9 Billion
-
Exxon Mobil Purchases XTO Energy For $31 Billion
Social Media