Irish electronic-learning company Thirdforce has confirmed it is in talks with MindLeaders.com, a US-based e-learning company over the possible takeover of the US company.

In a statement to the Irish Stock Exchange, Thirdforce said it was in discussions with the US company "which may or may not lead to the possible acquisition of MindLeaders by the company".

Should the deal go ahead, it would involve a fundraising and would represent a substantial transaction as defined by rule 12 of London's Alternative Investment Market (AIM) and rule 12 of the Irish Enterprise Exchange (IEX). Thirdforce is listed on both markets.

The company declined to provide any more details but said a further announcement would be made after the agreement, if any, was reached as a result of the current talks.

Last month, Thirdforce reported a rise in pre-tax losses to €1.37 million for 2006, from €1.2 million at the end of 2005, despite a 33 per cent rise in revenues to €16.75 million. At the time, chairman Pat McDonagh said the company would continue to seek acquisitions while focusing on sales within the existing group.