Irish e-learning firm Thirdforce has got shareholder approval to buy US firm MindLeaders.com for $18m.
MindLeaders will now be merged into a wholly owned subsidiary of Thirdforce.
ThirdForce said it will now target further growth across the US and it said that the combined businesses will have revenue of over €30m.
The acquisition will be completed in a cash and share deal following a fund-raising that was over-subscribed.
Thirdforce has now decided to increase the value of new shares issued from the original range of €10m - €13m to a total of €15m.
ThirdForce will also further expand its business in the UK and other markets through the introduction of the MindLeaders product range, it said today.
CEO Brendan O'Sullivan said : 'ThirdForce now has a presence in the world's number one e-learning market whereby we will be able to market our existing product range more widely to a growing customer base and expand with new products into key sectors including adult education, workplace learning and vocational training.'
He said that internationally governments are rapidly turning to e-learning as a method of skills development within their societies.
MindLeaders is ThirdForce's fourth acquisition in four years.
Thirdforce shares closed up 7.6% at 28 cent in Dublin this evening.
