Global growth investor General Atlantic announced Wednesday that it has agreed to acquire Learning Technologies Group PLC (LTG), a U.K.-based workplace training provider, for £836 million ($1.1 billion). The acquisition will be executed through Leopard UK Bidco Ltd., a special purpose acquisition company managed by General Atlantic.
This strategic move underscores General Atlantic’s commitment to expanding its presence in the corporate e-learning sector, a market valued at $22.2 billion in 2023 and projected to grow to $46 billion by 2030.
The Deal: Two Offer Options for LTG Shareholders
General Atlantic has presented LTG shareholders with two cash-based alternatives:
- Option 1: A payment of £1 per share, reflecting a 34% premium over LTG’s closing price of 74.9 pence on Sept. 26.
- Option 2: Shareholders can convert part of their proceeds into new equity in the post-sale enterprise, though these “rollover shares” will not be listed.
The equity portion of the deal is valued at £802.4 million, with the remaining sum accounting for debt and the sale of LTG’s vendor management business, VectorVMS.
