Thoma Bravo Completes Acquisition of Plato Learning

Thoma Bravo, LLC, a leading private equity investment firm, has completed the acquisition of PLATO Learning, Inc. (NASDAQ:TUTR), a leading provider of instructional technology for the K-adult market. The acquisition is valued at approximately $143 million and follows approval of a merger agreement by PLATO Learning shareholders during a special shareholder meeting held today.

“The team at Thoma Bravo could not be more excited to partner with PLATO Learning’s existing management team to strengthen the Company’s market position,” said Scott Crabill, a managing partner at Thoma Bravo. “We look forward to applying our expertise in growing industry leading software companies to PLATO Learning.”

“PLATO Learning’s executives, management and employees are equally excited about the positive shareholder vote and completed merger with Thoma Bravo, LLC," said PLATO Learning President and CEO Vin Riera. "Together with Thoma Bravo, PLATO will continue to grow, innovate and bring the best possible learning solutions to our customer base.”

“PLATO Learning is a recognized leader in the online instruction market, an industry that remains extremely fragmented,” said Holden Spaht, a principal at Thoma Bravo. “We look forward to further enhancing PLATO’s market leadership position through operational best practices and strategic acquisitions.”

PLATO Learning shareholders will receive $5.60 per share for each share of common stock they hold.

Despite volatile market conditions, Thoma Bravo continues to complete software-related transactions. Since the beginning of 2008, Thoma Bravo has completed 16 acquisitions in the software industry. To date, Thoma Bravo has completed 40 acquisitions across 14 platform companies in the software industry.

Kirkland & Ellis LLP provided legal counsel to Thoma Bravo.

About Thoma Bravo, LLC

Thoma Bravo is a leading private equity investment firm that has been providing equity and strategic support to experienced management teams building growing companies for more than 29 years. The firm originated the concept of industry consolidation investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth. Thoma Bravo applies its investment strategy across multiple industries with a particular focus on the software and services sectors. In the software industry, Thoma Bravo has completed 40 acquisitions across 14 platform companies with total annual earnings of approximately $700 million. For more information on Thoma Bravo, visit http://www.thomabravo.com/.

About PLATO Learning, Inc.

PLATO Learning is a leading provider of computer-based and e-learning instruction for kindergarten through adult learners, offering curricula in reading, writing, math, science, social studies, and life and job skills. For more information on PLATO Learning, visit www.plato.com.