Interactive learning group Riverdeep is to acquire the assets of US technology training company Teacher Universe in a $13.5 million deal.
The deal comprises $1m in cash and around 500,000 Riverdeep American Depository Shares, which on today's share price are worth about $12.5 million.
Teacher Universe is a subsidiary of Knowledge Universe, an umbrella for a diverse group of companies involved in education and technology training.
Teacher Universe provides e-learning and classroom-based solutions for teachers.
Riverdeep and Knowledge Universe have also agreed a preferred partner arrangement under which they will co-promote each other's products.
Riverdeep CEO Barry O'Callaghan said the deal expanded its content library and professional development offerings, and made the company the only 'one-stop shop' serving large school districts' technology needs.
Riverdeep shares closed up nine cents at 4.84 euro in Dublin today.
