EQT Expansion Capital II has agreed to invest approximately €47m in Norwegian education software group itslearning AS. The investment will be used to provide funding for the Company’s ambitious growth strategy as well as to buy out parts of the existing shareholder base.
The Company’s founders and the management team will re-invest the majority of their proceeds in itslearning and partner with EQT Expansion Capital II to continue to grow and develop the Company. The funds provided by EQT Expansion Capital II will be a combination of debt and equity.
itslearning is an international provider of a cloud-based learning management system (LMS). which helps teachers and students manage the learning process, create multimedia resources, and share work and information online. itslearning also makes it easy for people involved in the learning process, including parents, to share resources and information quickly and securely.
The transaction is expected to close in April 2013, subject to customary regulatory approvals.
