Riverdeep shares soar on MBO deal

Shares in Riverdeep soared by up to 20% today after the Irish educational software publisher agreed to a management buy out which values its business at $376.3m (€353m).

The offer from Hertal Acquisitions, a company controlled by Riverdeep’s chairman and chief executive Barry O’Callaghan and non-executive director and founder Patrick McDonagh, has been recommended to shareholders by independent directors.