UK-based Learning Technologies announced that it has entered a conditional agreement to acquire PeopleFluent Holdings Corp for £107 million and will raise about £80 million through a placing to fund the acquisition.

Learning Technologies will finance part of the acquisition with up to £35 million in incremental debt financing. The group added that the deal is expected to be completed this month and will add immediately to group earnings.

PeopleFluent is a US-based provider of vendor management system and other talent management software. Alliance News reports that the addition of PeopleFluent to Learning Technologies would see its combined revenue to approximately £135 million, with its platform division representing 77% of revenues. Its recurring revenue would increase 68% from 39%.

Learning Technologies CEO Jonathan Satchell commented, "I am delighted to announce the proposed acquisition of PeopleFluent, a leading talent management platform that will be transformative for our US presence and brings us new and complementary capabilities. 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."

"This acquisition is fully aligned with our stated strategy from a capabilities, sector, geographic and financial profile perspective,”Satchell said. “PeopleFluent brings a large installed base of customers and significantly expands our international footprint with its US presence. We believe the financial effects of the acquisition are highly compelling."

Learning Technologies stated if the acquisition does not go ahead it will keep the proceeds raised and use them for other "potential investment opportunities". Learning Technologies said it would complete the review and integration process within 100 days if the acquisition is successful.