Kirkland Helps Thoma Bravo, Plato In $291M Software Deal

Law360, New York (March 5, 2012, 12:16 PM EST) -- Thoma Bravo LLC-owned Plato Learning Inc. will buy fellow educational software maker Archipelago Learning in a $291 million agreement, the private equity firm said Monday.

Plato Learning will pay $11.10 per Archipelago Learning share in cash, about 23 percent more than the stock's March 2 per- share closing price of $9.04. Plato Learning has secured financing commitments for the deal from Credit Suisse and Jefferies Finance LLC, it said.

The target's board of directors unanimously approved the deal. The acquisition is subject to regulatory and Archipelago...
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