March 30, 2010 (FinancialWire) — Plato Learning, Inc. (NASDAQ: TUTR), a provider of K-adult online learning solutions, has entered into a definitive agreement to be acquired by an affiliate of Thoma Bravo, LLC in a transaction valued at around $143 million.

The Plato Learning board of directors unanimously approved the agreement and will recommend that the company's shareholders approve the transaction.

Under the terms of the agreement, Plato Learning shareholders will receive $5.60 in cash for each share of Plato Learning common stock they hold, representing a premium of around 30% over the company's average closing price during the 30 trading days ending March 25, 2010 and a 34% premium over the company's average closing price during the 90 trading days ending March 25, 2010.

Plato Learning said it expects the transaction to close in the company's fiscal quarter ending July 31.

Minnesota-based Plato Learning is a provider of computer-based and e-learning instruction for kindergarten through adult learners, offering curricula in reading, writing, math, science, social studies, and life and job skills.

Thoma Bravo is a private equity investment firm.

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