Learning Technologies Group plc (“LTG”), the integrated e-learning services and technologies provider, has entered into an agreement to acquire PeopleFluent, a leading independent provider of cloud-based integrated talent solutions focusing on all aspects of the employee lifecycle: recruitment, development, performance and compensation.
The acquisition of PeopleFluent is the Group’s response to the current global requirement for workplace change. According to research by Gartner, by 2022, digital business transformation will cause nearly 80% of organisational skills to be reprioritised or revisited [1]. PeopleFluent introduces a new range of capabilities required for the workforce of today, enabling LTG to provide the full employee lifecycle with a complete set of products and services from recruitment to retention.
PeopleFluent introduces capability, including advanced video technology and social collaboration tools, to LTG’s portfolio of specialist digital learning businesses, which includes LEO Learning, gomo, Eukleia, PRELOADED, Rustici Software and NetDimensions. It expands the opportunity for all Group companies to offer a strategic, results-focused offer in the broader context of the evolving workforce.
Founded in 2010, PeopleFluent provides organisations with cloud-based solutions to power a productive workforce. PeopleFluent’s Talent Productivity Platform unifies a company’s talent acquisition and talent management processes into a single, collaborative workspace that reflects their unique talent strategies, culture, and employer brand.
PeopleFluent will benefit from LTG’s expertise and technology, boosting learning capability significantly. Improved proficiency in learning will be well received by industry analysts who currently rate the learning component least effective of the PeopleFluent offer. LTG will also assist with expansion of PeopleFluent’s geographical reach due to strong presence in EMEA and APAC.
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Jonathan Satchell, Chief Executive of LTG, said:
“I am delighted to announce that LTG has entered into an agreement to acquire PeopleFluent. Learning and talent are closely aligned, and integrated talent and learning solutions will become vital as the pressure increases on corporates to attract, develop and retain people.
We are really excited to find an organisation that matches the LTG approach where each element is regarded as market-leading and can stand on its own, but when combined, provides transformational benefits to clients.”
LTG announced its intention to acquire PeopleFluent to the London Stock Market on Tuesday 24 April, making an offer of $150 million.
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Completion of the acquisition is conditional upon, among other things, completion of the Placing, the incremental debt financing being available at completion of the acquisition, all applicable waiting periods (and extensions thereof) under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976 shall have expired or otherwise been terminated by the parties, and the Merger Agreement not being terminated, in each case, in accordance with the terms of the Merger Agreement.
Subject to the fulfilment of the above conditions, the acquisition is expected to complete shortly after the satisfaction of the U.S. anti-trust condition which is expected to take approximately two weeks if the U.S. anti-trust authorities grant early termination of the statutory waiting period, and 30 days or more if early termination is not granted. Completion of the acquisition is therefore expected to occur in May 2018.