Skillsoft is an American
educational technology
Educational technology (commonly abbreviated as edutech, or edtech) is the combined use of computer hardware, software, and educational theory and practice to facilitate learning and teaching. When referred to with its abbreviation, "EdTech" ...
company that produces
learning management system software and content.
History
Skillsoft was founded by Charles Moran in 1998. Moran served as chief executive officer and President from 1998 to 2015.
Skillsoft had an
IPO
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
under the stock symbol SKIL in February 2000
[ and a SPO in July 2001.][ In June 2021, Skillsoft became a publicly traded company once again under the same stock symbol.][ establishing a common headquarters in Ireland. The company acquired NETg from ]Thomson Corporation
Thomson Corporation was one of the world's largest information companies. It was established in 1989 following a merger between International Thomson Organization and Thomson Newspapers. In 2008, it purchased Reuters Group to form Thomson Reut ...
in 2007.bought out
''Bought'' is a 1931 American Pre-Code drama film produced and released by Warner Bros. and directed by Archie Mayo. The movie stars Constance Bennett and features Ben Lyon, Richard Bennett and Dorothy Peterson. It is based on the 1930 novel ' ...
for $1.2 billion by SSI Investments III Limited, a firm funded by Berkshire Partners
Berkshire Partners LLC is an American private equity firm based in Boston. It has invested in over 100 middle market companies since 1986 through nine investment funds with aggregate capital commitments of more than $16 billion. Berkshire has de ...
, Advent International
Advent International Corporation is an American global private equity firm. It is focused on buyouts of companies in Western and Central Europe, North America, Latin America and Asia. The firm focuses on international buyouts, growth and strat ...
and Bain Capital
Bain Capital, LP is an American Investment company, private investment firm based in Boston, Massachusetts, Boston, Massachusetts, with around $185 billion of assets under management. It specializes in private equity, venture capital, credit, p ...
.[ Skillsoft acquired Element K from ]NIIT
NIIT Limited is an Indian for-profit multinational corporation headquartered in Gurgaon, India, that provides training, development, and vocational education. The company was set up in 1981 to help the nascent IT industry overcome its human ...
in October 2011, and MindLeaders
MindLeaders was an e-learning and organizational development company with a global headquarters in Dublin, Ireland and offices in the UK, US, South Africa and Australia which has been described by Bersin as a "global e-learning player" along with ...
from ThirdForce Group in September 2012.[
Skillsoft was sold by Berkshire Partners to ]Charterhouse Capital Partners
Charterhouse Capital Partners is a London based private equity investment firm focused on investing in European mid-market companies valued between €200m and €1.5bn. The company targets investments across the services, healthcare, specialis ...
for $2.0 billion on April 28, 2014.[ Later that year, Skillsoft acquired ]SumTotal Systems
SumTotal Systems, Inc. is a software company based in Gainesville, Florida, that provides human resource management software and services to private and public sector organizations. The company uses multiple cloud-based channels, including soft ...
in September 2014.[ In May 2015, Skillsoft acquired Vodeclic SAS.][
In September 2017, Skillsoft launched virtual coding practice lab CodeX, which provides coding exercises with embedded video content.
On June 14, 2020, Skillsoft voluntarily filed for ]Chapter 11
Chapter 11 of the United States Bankruptcy Code ( Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, w ...
bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the deb ...
protection in the United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...
. On August 27, 2020, Skillsoft was able to announce that it had emerged from bankruptcy. During the court-supervised process the company was able to reduce its debt by $1.5 billion US dollars.
In June 2021, Skillsoft was acquired by Churchill Capital. Churchill Capital then merged with Software Luxembourg, then acquired the Global Knowledge technical training platform.Codecademy
Codecademy is an American online interactive platform that offers free coding classes in 13 different programming languages including Python, Java, Go, JavaScript, Ruby, SQL, C++, C#, Lua, and Swift, as well as markup languages HTML ...
, an online computer programming
Computer programming or coding is the composition of sequences of instructions, called computer program, programs, that computers can follow to perform tasks. It involves designing and implementing algorithms, step-by-step specifications of proc ...
learning platform, for approximately $525 million in cash and stock. The sale was completed on April 5, 2022.
In 2022, Skillsoft sold SumTotal to Cornerstone on Demand for $200 million.
References
{{reflist, 2, refs=
[{{cite web, title=Skillsoft, url=http://www.berkshirepartners.com/skillsoft, publisher=Berkshire Partners, accessdate=17 June 2015]
[{{cite web, last1=Bersin, first1=Josh, title=Skillsoft Acquisition of SumTotal: Corporate Training Market Disruption?, url=https://www.forbes.com/sites/joshbersin/2014/10/01/skillsoft-acquisition-of-sumtotal-corporate-training-market-disruption/, work=Forbes, accessdate=17 June 2015, date=October 1, 2014]
[{{cite news, last1=Brown, first1=Rodney H., title=SkillSoft to go private in $1B buyout from Bain and partners, url=http://www.bizjournals.com/boston/blog/mass-high-tech/2010/02/skillsoft-to-go-private-in-1b-buyout-from.html, accessdate=19 June 2015, work=Boston Business Journal, date=February 15, 2010]
[{{cite web, title=Skillsoft Announces Acquisition of Vodeclic, url=http://www.businesswire.com/news/home/20150507005370/en/SkillSoft-UK-Regulatory-Announcement-Statement-Acquisition-Vodeclic#.VYGFi_l4rTo, website=BusinessWire, publisher=Berkshire Hathaway, accessdate=17 June 2015, date=May 7, 2015]
[{{cite web, title=Skillsoft Corporation Company Information, url=http://www.hoovers.com/company-information/cs/company-profile.SkillSoft_Corporation.3b3a38b54083591d.html, publisher=Hoovers, accessdate=17 June 2015]
[{{cite web, title=Skillsoft Corp (SKIL) IPO, url=http://www.nasdaq.com/markets/ipos/company/skillsoft-corp-67345-2886, publisher=NASDAQ, accessdate=19 June 2015]
[{{cite web, title=Skillsoft Corp (SKIL) SPO, url=http://www.nasdaq.com/markets/spos/company/skillsoft-corp-67345-14313, publisher=NASDAQ, accessdate=19 June 2015]
[{{cite web, title=About Skillsoft, url=http://www.skillsoft.com/learning-company.asp, publisher=Skillsoft, accessdate=17 June 2015]
[{{cite news, last1=Suria, first1=Asif, title=Merger Arbitrage Mondays: April 5, 2010, url=http://seekingalpha.com/article/197340-merger-arbitrage-mondays-april-5-2010, accessdate=19 June 2015, work=Seeking Alpha, date=April 6, 2010]
Educational technology companies of the United States
Software companies established in 1998
E-learning
2000 initial public offerings
2010 mergers and acquisitions
2014 mergers and acquisitions
Companies based in Nashua, New Hampshire