Xpertise shareholders reject acquisition ahead of potential takeover

SHAREHOLDERS at IT training specialist Xpertise have voted against the £4.8m purchase of Parity Training – leaving the way clear for a takeover by privately-owned rival QA-IQ.

QA-IQ announced it had made a £8.7m cash offer for Xpertise last week.

Xpertise said the result of the general meeting meant it would not be completing the Parity Training deal.

Xpertise said it was considering its response to QA-IQ’s bid.

A condition of the QA-IQ offer was that the Parity deal was scrapped.

QA-IQ has already received the support of 46.4% of Xpertise shareholders for its offer, but Xpertise is advising shareholders to take no action.

Private equity-backed QA-IQ has training centres around the country, including one in Leeds, and said the changing market in IT training “demands a larger training provider with broader capabilities”.

Xpertise, which was formed in 1994, is one of the UK’s leading providers of IT and professional training.

It has a network of centres across the UK, with 45 training rooms and capacity for about 500 students.

QA-IQ is the largest learning services company in the UK, running more than 800 courses.

It is 65% owned by London-based private equity fund Englefield Capital, with management holding the remaining 35%.

In a statement, Berkshire-based QA-IQ said: “Large blue-chip clients require a fully national delivery service in terms of both geographic reach and curriculum depth. The combination of QA-IQ and Xpertise will enable the enlarged group to deliver this.”

Xpertise said: “The company is considering how to respond. In the meantime, the company advises shareholders to take no action.”