(Reuters) -UK's Learning Technologies Group (LTG) on Wednesday agreed to be acquired by U.S. private equity firm General Atlantic in a deal which values the company at about 802.4 million pounds ($1.02 billion).

Under the deal, LTG shareholders will receive 100 pence per share in cash, a premium of 34% to the stock's closing price of 74.9 pence on Sept. 26, the last business day before the start of the offer period.

Shares of the company rose as much as 7% following the announcement, hitting their highest level since June 2023.

The deal comes amid a flurry of merger and acquisition activity in Britain in recent days.

Last week, automotive components supplier TI Fluid agreed to a 1.04 billion pound takeover by Canada's ABC Technologies.

LTG entered deal talks with General Atlantic in late September as its revenue declined due to companies reducing their overall spending on learning and talent development amid a weaker economic environment.

LTG, which provides corporate training tools including mobile apps and training videos, said in a statement that its independent directors intend to unanimously recommend the deal to shareholders.

($1 = 0.7893 pounds)

(Reporting by Yamini Kalia and Aby Jose Koilparambil in Bengaluru; Editing by Varun H K)