Wednesday, May 16, 2012

Archipelago Learning Shareholders Give Nod To Merger

Dallas-based Archipelago Learning, the provider of subscription software-as-a-service for the education market, reported Wednesday evening that its shareholders have approved its merger with PLATO Learning, the private equity backed educational software firm. Archipelago said that 99.99% of the shareholders voted in favor of the acquisition, which still has some closing conditions. Plato Learning is backed by Thoma Bravo. The deal is worth around $291M in cash.