SumTotal acquired by Vista Equity Partners

Article | Thu, 05/28/2009 - 01:00

SumTotal® Systems, Inc., a global provider of talent development solutions, announced yesterday that it has entered into a definitive merger agreement with affiliates of Vista Equity Partners. Vista will acquire all the outstanding shares of SumTotal common stock for $4.85 per share in cash, or approximately $160 million.

SumTotal also announced that, concurrent with entering into the Vista Agreement, it would terminate its previously announced amended merger agreement with affiliates of Accel-KKR after the negotiation period expired. SumTotal paid a termination fee of $6.67 million to affiliates of Accel-KKR.