E-learning provider ThirdForce is to acquire US company MindLeaders.com for $18 million (€13.33 million).
According to a report issued to the Irish Stock Exchange this morning, the merger will consist of $9 million (€6.66) of cash acquisition and $9 million of new ordinary shares in the merged company.
The company is proposing to raise up to €13.0 million before expenses through a placing of ThirdForce ordinary shares at a placing price of €0.19 per share.
ThirdForce, with headquarters in Dublin, employs 130 people and provides online learning services such as IT training and testing and literacy programmes.