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LDC invests in education software provider Texthelp

LDC (Managers) Ltd., the private equity arm of Lloyds Banking Group PLC, provided significant investment to Texthelp Ltd.

Texthelp is an international education and corporate software provider based in the U.K.

The transaction marks the exit of longtime sponsor Delta Partners Ltd., which initially invested in the company in December 1996.

LDC said it will help the company accelerate its growth plans in new and existing markets, and develop new products, primarily for the data analytics market.

Texthelp will still be led by its current management, with former EMAP Ltd. and Informa PLC CEO David Gilbertson joining its board as nonexecutive chairman, alongside LDC's Steve Aston and Joseph Fison.