Acquisition: Learning Technologies Group plc
Learning Technologies Group plc (LTG), the integrated e-learning services and technologies provider, today announced that it has completed the acquisition of PeopleFluent Holdings Corp. (PeopleFluent) for a cash consideration of $150 million (£107 million). The acquisition was funded by a placing which raised £85 million and up to c.£35 million in incremental debt financing.
PeopleFluent is a leading independent provider of cloud based integrated recruiting, talent management, and compensation management solutions in the United States. PeopleFluent generated over $100 million of revenue in 2017, providing solutions to 2,200 customers (including 50% of the Fortune 100 companies in the US), with a high recurring revenue base. LTG believes that PeopleFluent provides a compelling strategic fit to its existing platforms and will generate numerous operational and financial benefits.
Crowe's role and team
Crowe acted as the financial and tax due diligence advisors to the transaction. Our transaction services team was led by Mitesh Patelia and supported by James Swan and Yaroslav Magnus-Hamblett.
Client quote
"We have been very impressed with the team at Crowe and are especially impressed with their ability to support our growth aspirations globally - the team provided proactive and commercial advice and enabled us to execute the transaction efficiently."
Jonathan Satchell, CEO, Learning Technologies Group
