SkillSoft has been acquired by SSI Investments III for around £800 million.
Dublin-based Software company SkillSoft has been acquired by the private equity consortium SSI Investments III for around $1.2 billion (£800 million).
SSI Investments III was formed by an investor group comprising Berkshire Partners, Advent International Corporation and Bain Capital Partners.
SkillSoft is a producer of on-demand e-learning programmes provided on a Software as a Service (SaaS) basis, and has headquarters in Europe, North America and Australia. Financing for the transaction was provided by Morgan Stanley, Barclays Capital and Deutsche Bank. The company will continue to be headquartered in Dublin, but its shares will no longer be publicly listed on NASDAQ.
Steve Tadler, a managing partner at Advent International, says: ‘We expect the e-learning industry to exhibit strong growth characteristics over the next decade [and] believe that SkillSoft is well-positioned to continue to develop and enhance its e-learning products and services.’
Ian Loring, a managing director at Bain Capital Partners, adds: ‘SkillSoft’s strong position in the training industry and compelling economic model create the opportunity to invest in a range of strategic growth initiatives that offer significant long-term potential.’