SumTotal's merger deal with Vista Equity clears waiting period hurdle

By Lisa Kerner

Charlotte, N.C., June 17 - The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the proposed acquisition of SumTotal Systems, Inc. by affiliates of Vista Equity Partners Fund III, LP, according to a government report.

As previously reported, Vista agreed in May to acquire SumTotal for $4.85 per share in cash in a deal valued at approximately $160 million.

The transaction with Vista is not subject to a financing condition but is subject to customary closing conditions, including the approval of SumTotal's stockholders.

SumTotal is based in Mountain View, Calif., and provides learning and business performance technologies and services.

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