Friday, April 24, 2009

SumTotal Acquired By Accel-KKR

Mountain View-based SumTotal Systems, a developer of talent management and compensation software, announced Friday that the firm is in a definitive merger agreement with affiliates of private equity firm Acce-KKR. The firm said the deal is worth approximately $124M, or $3.80 per share in cash of the publicly held firm. SumTotal was advised by RBC Capital Markets and Wilson Sonsini Goodrich & Rosati. Accel-KKR was advised by Kirkland & Ellis LLP in the deal.