Ellucian, a leading provider of tertiary education technology solutions, has announced its agreement to acquire Tribal Group plc, a UK-based enterprise resource planning (ERP) and customer relationship management (CRM) software and services provider to the education sector.
The acquisition is seen as a strategic move by Ellucian to expand its global product capabilities and strengthen its position in the education technology industry.
The deal, which has been recommended by Tribal Group, is valued at approximately £172 million. The acquisition will enable Ellucian to leverage Tribal Group’s expertise in the education sector and enhance its ability to provide innovative solutions to its customers.
The move is expected to benefit both companies, as they share a common vision of transforming the education sector through technology.
The acquisition is expected to be completed in the coming months, subject to regulatory approvals. The news has been met with excitement by industry experts, who see the deal as a positive development for the education technology sector.
The acquisition is expected to create new opportunities for growth and innovation, as Ellucian and Tribal Group work together to develop new solutions that meet the evolving needs of the education sector.
Excited about the potential for growth, Ellucian has announced its agreement to acquire Tribal Group plc, a UK-based enterprise resource planning (ERP) and customer relationship management (CRM) software and services provider to the education sector. The deal is expected to expand Ellucian’s global product capabilities and enhance its position as a leading provider of tertiary education technology solutions.
The all-cash offer values Tribal Group at an implied enterprise value of £172.3 million. The deal is expected to be completed in Q4 2023, subject to regulatory approvals and customary closing conditions.
The offer represents a premium of approximately 42% to the closing price of Tribal Group’s shares on 4 October 2023, the last trading day prior to the announcement of the deal.
On a fully diluted basis, the offer values each Tribal Group share at 195p. The offer price represents a premium of approximately 44% to the volume-weighted average price of Tribal Group’s shares over the last three months.
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