The Learning Technologies Group announced on Friday that the board intends to unanimously recommend a cash offer from General Atlantic of 1 pound per share. The company's shares rose by 28 percent to 96 pence following the news, reaching a market capitalization of 760 million pounds. Sources close to the company report that other private equity groups are also eyeing the firm as a potential takeover target.

Learning Technologies, a provider of digital training for government agencies and businesses, generated revenues of £250 million in the first half of 2023 – a 12% decline compared to the previous year. The adjusted earnings before interest and taxes amounted to £43.3 million.

The current CEO Jonathan Satchell and the non-executive chairman Andrew Brode took over the company in 2008, which was then known as Epic Group. The company was listed on the stock exchange in 2011. Satchell currently owns 9.2 percent of the shares, while Brode holds 14.8 percent.

The offer from General Atlantic, which was made through its structured debt fund Atlantic Park, also includes an option for LTG shareholders to choose an unlisted participation alternative. This option would allow the shareholders to reinvest their shares into General Atlantic's acquisition company and thereby participate in the future development of the company.

General Atlantic currently manages assets worth 83 billion US dollars and is known for its investments in high-growth technology companies such as Alibaba, Facebook, and ByteDance. The company has recently expanded its presence in education and infrastructure technology through a series of acquisitions.

This year, General Atlantic, together with Goldman Sachs Asset Management, acquired the Norwegian EdTech group Kahoot in a cash offer worth nearly $2 billion. Additionally, in January, the strategic acquisition of the London-based infrastructure group Actis was agreed upon, increasing the investment manager's assets under management by an additional $12.5 billion.

The offer from LTG follows several previous contacts from General Atlantic, as the company explained in its statement. The talks were accompanied by advisors Goldman Sachs and Deutsche Numis.

Here's the translation of the provided text:

"With the takeover bid, the trend continues that international investment firms are targeting British companies and delisting them. General Atlantic itself did not comment on the ongoing negotiations.