|By Business Wire||
|August 21, 2014 10:01 AM EDT||
Skillsoft Limited (“Skillsoft”), a pioneer in technology-delivered learning solutions, announced today that its subsidiary, Skillsoft Corporation, has entered into a definitive agreement for the acquisition of SumTotal Systems, LLC from affiliates of Vista Equity Partners (“Vista”), a U.S.-based private equity firm. Terms of the transaction were not disclosed.
Skillsoft has a long history of innovation and delivery of solutions for its customers worldwide, ranging from global enterprises, government, and education to mid-sized and small businesses. The acquisition of SumTotal expands Skillsoft’s solution portfolio and global reach.
SumTotal provides flexible, next-generation human resources (HR) solutions to 3,500 customers and 49 million users worldwide including many of the Fortune 500. SumTotal’s Talent Expansion solution provides personalized learning and HR processes to organizations of all sizes.
“We’re very excited about the opportunity to bring together the experience and strengths of two proven leaders in the cloud-based HR solutions market," said Skillsoft CEO Chuck Moran. “The integration of these complementary products - Skillsoft’s technology-delivered learning assets and SumTotal’s solutions for learning, talent and workforce management - will allow our customers to break new ground in implementing more comprehensive solutions for managing and expanding their workforce talent.”
“We are pleased to support the management team with such a significant and transformational transaction so soon in our tenure together,” said Frank van den Bosch, Partner at Charterhouse Capital Partners LLP, which acquired Skillsoft in April 2014. “Skillsoft’s acquisition of SumTotal brings together two of the most widely respected and experienced industry players and gives us the ability to present an exciting and compelling opportunity for the combined global customer base.”
“We look forward to joining the Skillsoft family,” said SumTotal CEO Hardeep Gulati. “This acquisition is a pivotal milestone in the 29-year history of SumTotal and a tremendous endorsement of our employees, as well as the differentiated solutions and services that SumTotal provides. I am very excited about the opportunity to provide more value to our customers, who now will benefit from a comprehensive content rich HR solution.”
“It has been our pleasure to work with SumTotal over the past five years to expand their portfolio of solutions and better serve their customers and the HR industry as a whole,” said Brian Sheth, President of Vista Equity Partners. “We are confident that SumTotal and Skillsoft together are well-positioned to deliver tremendous value to customers and we wish the company the very best during its next phase of growth.” As part of the transaction, Vista Equity Partners will maintain a small ownership stake in the combined company.
The closing of this transaction is subject to various conditions, including the expiration of the applicable waiting period under the Hart-Scott-Rodino Act.
Deutsche Bank Securities Inc. acted as exclusive financial advisor to Skillsoft. Committed financing for the transaction is being provided by Barclays, Morgan Stanley, Deutsche Bank and Credit Suisse. Simpson Thacher & Bartlett LLP acted as legal counsel to Skillsoft. Evercore acted as exclusive financial advisor to Vista. Kirkland & Ellis acted as legal counsel to Vista.
Skillsoft is a pioneer in the field of learning with a long history of innovation. Skillsoft provides cloud based learning solutions for its customers worldwide, ranging from global enterprises, government, and education to mid-sized and small businesses. Skillsoft's customer support teams draw on a wealth of in-house experience and a comprehensive learning e-library to develop off-the-shelf and custom learning programs tailored to cost-effectively meet customer needs. Skillsoft's courses, books and videos have been developed by industry leading learning experts to ensure that they maximize business skills, performance, and talent development. Skillsoft currently serves over 6,000 customers and more than 19,000,000 learners around the world. Skillsoft is on the web at www.Skillsoft.com.
About Charterhouse Capital Partners LLP
Charterhouse is one of the oldest Private Equity funds in Europe having been investing in management buyouts since the 1980s. Since then, Charterhouse has completed 139 transactions with an aggregate value in excess of EUR 50 billion. Today Charterhouse is investing from its ninth fund of EUR 4 billion and focuses on backing managers of outstanding businesses to achieve their growth plans. For additional information please visit: www.charterhouse.co.uk.
About SumTotal Systems
SumTotal Systems, LLC, a leading independent provider of integrated HR solutions, is increasing the performance of some of the world’s most successful organizations. The only HR solution provider to deliver Talent Expansion, a whole new approach to discovering, developing and unleashing hidden potential within our customers’ workforce, SumTotal delivers employee enablement solutions that help organizations become great places to work. SumTotal’s people-focused applications, available on premise and in the Cloud, enable contextual, just-in-time development designed to advance employees’ skills and knowledge. Today, more than 3,500 organizations, including several of Fortune’s “Best Places to Work,” rely on SumTotal’s on premise and cloud-based Talent Expansion applications to enable their employees.
About Vista Equity Partners
Vista Equity Partners, a U.S.-based private equity firm with offices in Austin, Chicago and San Francisco, with approximately $13 billion in cumulative capital commitments, currently invests in dynamic, successful technology-based organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For further information, please visit www.vistaequitypartners.com.
Skillsoft, the Skillsoft logo, Skillport, SkillChoice, and Books24x7 are a partial listing of the trademarks or registered trademarks of Skillsoft Ireland Limited in the United States and certain other countries. All other trademarks are the property of their respective owners.
Cloud Expo, Inc. has announced today that Andi Mann and Aruna Ravichandran have been named Co-Chairs of @DevOpsSummit at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Feb. 20, 2017 12:45 PM EST Reads: 939
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
Feb. 20, 2017 12:45 PM EST Reads: 4,224
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you...
Feb. 20, 2017 12:45 PM EST Reads: 1,007
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
Feb. 20, 2017 12:30 PM EST Reads: 410
Column Technologies exhibited at SYS-CON's @DevOpsSummit at Cloud Expo, which took place at the Javits Center in New York City, NY, in June 2016. Established in 1998, Column Technologies is a global technology solutions provider with over 400 employees, headquartered in the United States with offices in Canada, India, and the United Kingdom. Column Technologies provides “Best of Breed” technology solutions that automate the key DevOps principals and help our customers meet today’s DevOps and Dig...
Feb. 20, 2017 12:15 PM EST Reads: 794
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Feb. 20, 2017 12:00 PM EST Reads: 1,138
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settle...
Feb. 20, 2017 11:45 AM EST Reads: 288
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Feb. 20, 2017 11:30 AM EST Reads: 1,730
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Feb. 20, 2017 11:30 AM EST Reads: 385
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
Feb. 20, 2017 11:30 AM EST Reads: 1,790
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Feb. 20, 2017 11:30 AM EST Reads: 299
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Feb. 20, 2017 11:15 AM EST Reads: 966
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, Cloud Expo and @ThingsExpo are two of the most important technology events of the year. Since its launch over eight years ago, Cloud Expo and @ThingsExpo have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, I provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading the...
Feb. 20, 2017 11:15 AM EST Reads: 7,865
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Feb. 20, 2017 11:00 AM EST Reads: 846
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
Feb. 20, 2017 10:45 AM EST Reads: 817