This article is from Star Tribune
Plato Learning, an online education company based in Bloomington, has reached an agreement to acquire publicly traded Archipelago Learning of Dallas for approximately $291 million, the two companies announced Monday.
The cash transaction at $11.10 per share represents a 23 percent premium over Archipelago's closing price of $9.04 per share on Friday.
Archipelago, founded in 2000, is a subscription-based provider of education software in United States, Canada, and the United Kingdom. The company had more than 400 employees at the end of 2010, according to its annual report.
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