Renaissance Learning (RLRN) to Be Acquired for $14.85/Share

Renaissance Learning, Inc. (Nasdaq: RLRN), has entered into a definitive merger agreement under which a company formed at the direction of the Permira Funds will acquire all of the outstanding shares of Renaissance Learning for $14.85 per share in cash, or approximately $440 million.

Closing is expected in Q411.

Goldman Sachs & Co. acted as exclusive financial advisor to Renaissance Learning's Board of Directors. Godfrey & Kahn, S.C. acted as legal advisors to Renaissance Learning. Sidley Austin LLP acted as legal advisors to the independent members of Renaissance Learning's Board of Directors. Mayer Brown LLP acted as legal advisors to Mr. and Mrs. Paul. Morgan Stanley & Co., LLC acted as lead financial advisor to the Permira Funds and RBC Capital Markets acted as co-advisor and is providing debt financing for the transaction. Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to the Permira Funds.

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