RTTNews | Oct 15, 2021 03:36AM EDT

03:36 Friday, October 15, 2021 (RTTNews.com) - Digital learning and talent management business Learning Technologies Group plc (LTTHF) on Wednesday said it successfully completed acquisition of GP Strategies Corporation (GPX),a U.S.-based workforce transformation solutions provider.

The consideration of acquisition, which was announced on July 15 was $20.85 per GP Strategies share in cash, valued at approximately $394 million.

The addition of GP Strategies is expected to help expand LTG's international footprint, blue-chip client base and cross-sell strategy. GP Strategies would also be providing deep industry expertise, including targeted expansion sectors (such as pharma, aerospace and automotive) and capabilities (such as leadership development and technical training).

The combined business is projected to generate revenue of approximately 500 million pounds and provide LTG with an enhanced global footprint, with over 5,000 employees in more than 30 countries. The transaction was financed by an 85-million-pound share placing and $305 million of debt financing, both completed in mid-July.

Learning Technologies closed Thursday's trading at 202.40 pounds, up 1 pound or 0.50 percent from previous close on the London Stock Exchange. GPX closed Thursday's trading at $20.85, at same level as previous close.

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