The educational company joins the exit from the London stock market after agreeing to be taken for 802m by US private equity firm Atlantic General.
General Atlantic, which has a stake in language learning app Duolingo, is buying Learning Technologies Group (LTG) for £802.4m in a bid to raise training requirements for large corporations as they adapt to artificial intelligence.
LTG, which provides corporate training tools including mobile and apps, has struggled amid the rapid development of generative AI and companies turning away from custom content creation to reduce costs.
General Atlantic said LTG will require further investments in its products to adapt to the changing landscape and competition, as well as the potentially disruptive AI.
General Atlantic already has educational technology companies in its portfolio beyond Duolingo, such as India-based Unacademia, and the popular learning platform Kahoot!
Shares in LTG rose as much as 7% after the news, hitting their highest point since June 2023. The company said in September that it was willing to negotiate with General Atlantic if a formal private equity offer was made to the firm.
Under the deal, LTG shareholders will receive 100p per share in cash, a 34% premium on the stock’s closing price on September 26, the day before General Atlantic’s interest was disclosed.
The deal joins the frenzy of merger and acquisition activity in Britain as interest rates fall and equity markets tighten.
LTG combines a an increasing number of firms operating from the London stock exchange – The exodus, which caused concern among politicians and business leaders.
Last week, the car was going to be part of the car TI Fluid Systems is valued at £1.04bn by ABC Technologies Canadawhile lounger business casual bar quit to a £338m bid from US private equity firm Citadel Investment Group, and Australian asset manager Macquarie struck a £700m deal to buy the waste business Renewi. Aviva’s efforts bought smaller rival Direct Line for £3.3bn He was also rejected last week.
LTG said its independent directors wanted shareholders to unanimously recommend the deal.