Plato Learning is buying Archipelago Learning Inc., which sells subscriptions to the online test-prep service Study Island, for about $291 million in cash as the education software maker seeks to boost its product lineup and grow its customers, CBS News reports. The $11.10 per share offer is a 23 percent premium over Archipelago's March 2 closing stock price of $9.04. The news sent Archipelago shares up $1.96, or 22 percent, to $11 in premarket trading March 5. Once the deal closes, Plato's customer base will include more than 50,000 schools and 17 million prekindergarten through adult students, Archipelago said. Archipelago's...
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