Saba Software buys Halogen Software for £237m

California-headquartered Saba Software has bought Canada-based Halogen Software for $293million, according to the Ottawa Business Journal.

Vector Capital is also involved in the acquisition. The deal is expected to be finalised by the end of the second quarter.

Halogen Software recently posted a profit of $146,000 (£118,000) for the fourth quarter of last year, up year-on-year from a loss of $2.6million (£2.1million); similarly, total revenue rose nine per cent year-on-year to $18.7million (£15.1million).

Pervez Qureshi, CEO of Saba, said: “Saba has a clear vision for the future of talent development and understands the powerful role learning and engagement experiences play in driving individual and business performance.