LONDON--Learning Technologies Group PLC (LTG.LN) said Wednesday it got a 20 million pounds loan ($25.1 million) from Silicon Valley Bank for a period of five years.

The e-learning company said the new loan replaced the $16 million loan with Barclays Bank PLC (BARC.LN).

Some of the money from the new loan will be used to pay for its recent acquisition of NetDimensions Holdings Ltd., the company said.

The company won't need the GBP5 million loan from Chairman Andrew Brode anymore now that it's got this loan, it said.

 

-Write to Olga Cotaga at olga.cotaga@wsj.com, Twitter @OlgaCotaga

 

(END) Dow Jones Newswires

March 29, 2017 11:58 ET (15:58 GMT)

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