Monday, March 5, 2012
Archipelago Learning Acquired By Private Equity Firm
Dallas-based Archipelago Learning, a provider of software-as-a-service, online education products for students, said this morning that it is being acquired by PLATO Learning, which is owned by private equity firm Thoma Bravo. The firm said the deal is worth $11.10 per share in cash, or approximately $291M. Archipelago said the deal came via a look at "strategic alternatives" by the company through a formal, competitive process. The firm was advised by Barclays Capital and Weil Gotshal & Manges LLP, iwth additional legal advice provided by Vinson & Elkins LLP. Archipelago owns a number of educational software brands.