itslearning Gets Funding Boost for Product Development

Bergen, Norway (ots/PRNewswire) -

Leading educational software company itslearning AS has received
an investment boost from EQT Expansion Capital II. The deal, signed
on 21st of March 2013, gives itslearning the ability to increase
product development and expansion into new markets, and makes EQT
Capital II the largest investor in the company.

EQT Expansion Capital II has agreed to invest approximately EUR 40
million in the Norwegian educational company itslearning. itslearning
will use the capital to fund new product development - including a
solution for mobile phones and tablets - and continue its expansion
into new markets.

Arne Bergby, itslearning CEO, comments: "I am very pleased to
welcome EQT Expansion Capital II to itslearning. Their experience
with international expansion will help support our company as grow in
the future. We will re-invest much of the capital into product
development, so we can ensure itslearning offers even better support
for teachers based on proven pedagogical practice."

The deal makes EQT Expansion Capital II itslearning's largest
shareholder. However, the original itslearning's founders still
remain in control of the company. Ulf Mattsson, Industrial Advisor at
EQT, will take over as Chairman of the itslearning board.

Improving education

itslearning is a cloud-based learning platform used by millions of
people in education institutions -ranging from kindergartens to
universities - in Europe and the Americas. An interactive learning
space, the cloud-based system gives teachers, students and others
involved in education the ability to exchange resources, work and
information online - which is seen as integral to improving education
in the 21st century.

Ulf Mattsson comments: "itslearning stands out from other learning
platforms because it emphasises the combination of technology and
proven educational practice. We can see this is important in the
educational sector and are looking forward to working with
itslearning to develop the company and product even further."

The transaction is expected to close in April 2013, subject to
customary regulatory approvals.

The deal at a glance:

- EQT Expansion Capital II will invest approximately EUR 40 million in
itslearning, buying out some existing shareholders to become the largest investor in
the company
- The capital will be used to further grow the company and increase product
development
- Ulf Mattsson, Industrial Advisor at EQT, will take over as Chairman of the
itslearning board
- The transaction expected to close in April 2013, subject to customary
regulatory approvals

Quotes:

"By emphasizing the interdependence of technology and pedagogy,
itslearning stands out as the best learning platform for teachers in
terms of usability and learning success."

"itslearing has a unique opportunity to grow its business and
contribute to the digital evolution we see happening in schools all
over the world."

Ulf Mattsson, Industrial Advisor at EQT and designated Chairman of
itslearning

"The investment allows us to continue our ambitious product
development strategy that focuses on helping teachers and students
use technology to further opportunities for learning."

"We can now pursue our mobile development strategy, optimising
itslearning for mobile devices. This is essential today as mobile
devices are becoming increasingly important to students and teachers
alike."

Arne Bergby, itslearning CEO

About itslearning

Designed for teachers and how they want to teach, itslearning is a
cloud-based learning platform used by millions of teachers, students,
administration staff and parents around the world. It can be found at
all levels of education, from primary schools to universities,
helping teachers make education more inspiring and valuable for
today's students.

At itslearning, we pride ourselves on understanding the needs of
education. More than 20% of our staff have worked as teachers, and we
can often be found in the classroom, learning from teachers. We
provide a full range of services, from simple training sessions to
full-scale implementation projects.

Established in 1999, we are headquartered in Bergen, Norway, and
have offices in London, Birmingham, Berlin, Paris, Mulhouse, Malmo,
Enschede and Boston.

More information at http://www.itslearning.eu

About EQT

EQT Expansion Capital II provides capital for privately owned
mid-market companies. The core investment focus of the Fund is
businesses in need of capital for growth. The financing solutions
have equity characteristics, while the owner normally maintains
control over the company.

EQT is the leading private equity group in Northern Europe with
approximately EUR 20 billion in raised capital and multiple
investment strategies. Together with a superior network of
independent Industrial Advisors, EQT implements its investment
strategy by acquiring or financing good medium-sized to large
companies in Northern and Eastern Europe, Asia and the United States,
supporting their development into leading companies. Development is
achieved by an industrial strategy with focus on growth. Since
inception, EQT has invested more than EUR 11 billion in around 110
companies and exited approximately 60. EQT-owned companies have more
than 550,000 employees.

More information can be found on http://www.eqt.se

http://www.itslearning.eu

ots Originaltext: it's learning AS
Im Internet recherchierbar: http://www.presseportal.de

Contact:
For more information, please contact: Arne Bergby, itslearning
CEO, Email: arne.bergby@itslearning.com, Tel: +47-55-23-60-70.