SkillSoft on Friday said it has agreed to be acquired by a trio of private equity firms for $1.1 billion.

Dublin, Ireland, SkillSoft attracted the bid from Advent International, Bain Capital, and Berkshire Partners for its e-learning software that targets businesses and government entities.

“We believe the transaction is good for our shareholders as the offer represents an attractive premium relative to our trading history and, as an all cash offer, provides liquidity for shareholders," SkillSoft CEO Chuck Moran said in a statement.

Shares of Nasdaq-listed SkillSoft were buoyed $1.24, or 12.7 percent, at $10.97 in afternoon trading Friday.

The transaction, an offer of $10.80 per share, represents a 10.7 percent premium over Thursday's closing price of SkillSoft shares.

Under terms of the deal, SkillSoft management will stay in place. The acquisition has been given the go ahead from SkillSoft board members but is pending approval from a vote by shareholders.

Credit Suisse Securities served as financial advisor.