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RealTime IT News

Provant Propositioned

Provant , a Boston maker of Web-based training software and services, has received an unsolicited proposal from the Institute for International Research.

"The board of Provant will evaluate the proposal and respond in due course," the company said in a statement.

Terms of IIR's bid were not disclosed. IIR is the world's largest conference company, with 120 different business units and 4.000 employees in 36 countries. It also offers training programs to pharmaceutical industry workers.

Adding Provant's technology as well as 1,500 corporate and government clients would help it expand its training offerings.

The company is scheduled to release its quarterly earnings statement next week.

Shares of POVT soared on the takeover news. Shares climbed 0.201, or 37 percent, to 0.74 in midday trading. In the last 52 weeks, the issue has ranged from 0.32 to 6.9375.