(Reuters) - Britain’s Learning Technologies Group Plc (LTGL.L) (LTG) said on Tuesday it would buy privately held talent management firm PeopleFluent Holdings Corp for $150 million to expand its presence in the United States.
LTG entered into a conditional agreement to buy PeopleFluent from investment mangers Bedford Funding I LP and Bedford HCM Holdings GP LLC, the London-based provider of workplace e-learning said in a statement.
“PeopleFluent brings a large installed base of customers and significantly expands our international footprint with its US presence. “ LTG Chief Executive Jonathan Satchell said.
Waltham, Massachusetts-based PeopleFluent provides software solutions and services including for recruitment and compensation.
The all-cash deal is intended to be funded by a new share placement for about 80 million pounds ($112 million), and up to about $48 million in debt financing, LTG said.
($1 = 0.7154 pounds)
Reporting by Ismail Shakil in Bengaluru; Editing by Alexander Smith