CORPORATE EDUCATION AND TRAINING
Skillsoft | December 23, 2021
Skillsoft, a global leader in corporate digital learning, today announced it has entered into a definitive agreement to acquire Codecademy, a leading online learning platform for technical skills, for approximately $525 million in cash and stock.
Codecademy is an innovative and popular learning platform providing high-demand technical skills to approximately 40 million registered learners in nearly every country worldwide. The platform offers interactive, self-paced courses and hands-on learning in 14 programming languages across multiple domains such as application development, data science, cloud and cybersecurity. In addition, the Codecademy platform can rapidly expand to deliver new skills at scale, making it highly adaptable to the evolving technical needs of learners and their employers. Codecademy, which was founded in 2011 and is headquartered in New York, is led by a proven entrepreneurial team that has built one of the most admired technical skills learning platforms in the industry.
“Codecademy will significantly expand Skillsoft’s capabilities in the high-growth Tech & Dev segment. Strategic acquisitions are an important part of our growth strategy. We acquired virtual instructor-led training capabilities with Global Knowledge and coaching with Pluma earlier this year. With the addition of Codecademy’s innovative capabilities, we will create an even more immersive online learning experience. When we combine Skillsoft’s enterprise customer base of more than 12,000 corporate customers and over 46 million learners with Codecademy’s 40 million learners, sophisticated digital marketing capability and influential brand, we expect to unlock significant revenue synergies.”
Jeffrey R. Tarr, Chief Executive Officer of Skillsoft
Following the close of the transaction, the Codecademy team will join Skillsoft to help further build out the leading technical skills training solution for learners globally.
“Since our founding, Codecademy has been focused on empowering our learners to build inspiring careers in technology,” said Zach Sims, founder and CEO of Codecademy. “We have helped tens of millions of people around the world learn new technology skills. Together with Skillsoft, we will have the opportunity to rapidly increase the size of our content library and scale Codecademy across the millions of learners and thousands of companies – including approximately 75% of the Fortune 1000 – that work with Skillsoft worldwide. With additional resources and opportunities to drive growth, we are excited to embark on this important next chapter.”
Strategic Rationale and Benefits
Creates a Leading Technology & Developer Offering. Adding Codecademy’s expertise in 14 programming languages across multiple domains to Skillsoft’s existing technical skills offering will create a leader in the high-demand, high-growth Tech & Dev segment. In addition, the capability of the Codecademy platform to rapidly add new programming languages and technical skills at scale will further enhance Skillsoft’s ability to meet the evolving demands of learners worldwide as it helps organizations address the critical technical skills gap.
Expands Immersive Platform with New Ways of Learning. Skillsoft has already assembled an expansive set of learning options, including virtual instructor-led training, coaching, micro videos, audio, books, bootcamps, live events, assessments and badges. Together with Codecademy’s interactive, self-paced courses and hands-on learning, Skillsoft will be able to deliver even more immersive experiences through its AI-driven platform, Percipio.
Creates Substantial Cross-Selling and Upselling Opportunities by Adding a Strong Brand and Powerful Digital Sales and Marketing Engine to Global Enterprise Sales Force. The acquisition will bring together Codecademy’s sophisticated direct-to-learner digital sales and marketing engine and Skillsoft’s enterprise sales organization, creating new opportunities to upsell and cross-sell across each company’s customer base, which is expected to drive customer growth and revenue synergies.
Expected to Be Significantly Accretive to Bookings and Revenue Growth Immediately Upon Closing. Codecademy is expected to deliver approximately $47 million in bookings and approximately $42 million in revenue for the calendar year ended December 31, 2021, up 23% and 31%, respectively, over the prior year. Codecademy is entirely a SaaS business and is expected to deliver gross margins of more than 85% in 2021 and be accretive to Skillsoft’s gross margin immediately upon closing. Codecademy is investing to fuel growth and, accordingly, is expected to generate negative EBITDA of approximately $20 million in 2021. Skillsoft expects it will accelerate Codecademy’s growth in its first year of ownership and that the acquisition will be accretive to EBITDA over the long term.
Skillsoft is a global leader in corporate digital learning, focused on transforming today’s workforce for tomorrow’s economy. The Company provides enterprise learning solutions designed to prepare organizations for the future of work, overcome critical skill gaps, drive demonstrable behavior-change, and unlock the potential in their people. Skillsoft offers a comprehensive suite of premium, original, and authorized partner content, including one of the broadest and deepest libraries of leadership & business skills, technology & developer, and compliance curricula. With access to a broad spectrum of learning options (including video, audio, books, bootcamps, live events, and practice labs), organizations can meaningfully increase learner engagement and retention. Skillsoft’s offerings are delivered through Percipio, its award-winning, AI-driven, immersive learning platform purpose built to make learning easier, more accessible, and more effective.
prnewswire | September 21, 2020
EuroKids International, India's leading early childhood education company, has introduced a revolutionary 26-week offline Home Schooling Programme for young children between 2 to 4 years (PG and Nursery). This product has been designed for parents who seek to have convenient, uninterrupted, offline learning for their toddlers within the safety of their home. The EuroKids Home Schooling Programme offers parents a completely easy and structured solution to engage their young children where their toddler's developmental milestones in terms of language, numeracy and science skills remain on track.
businesswire | February 15, 2021
With the extending need for business experts to successfully utilize and use information in every day choices, Kaplan, Inc., one of the world's biggest and most assorted training suppliers, has presented a unique answer for organizations to upskill representatives with an information education program. Created by its eminent Metis® information science and examination preparing group and conveyed by Kaplan Performance Academy (KPA), organizations presently have a top notch computerized climate that hosts and arranges exceptionally custom fitted picking up, training, and evaluations.
The Foundations in Data Literacy program was planned by the Metis and KPA groups to prepare representatives in any job all through an association—specialized and non-specialized—with the skills they need to peruse, investigate, work with, and examine information. The program is conveyed on KPA's computerized, vivid stage that gives useful application, execution following, and gathering coaching in live, social student networks, which drives commitment, responsibility, and determination.
“Today’s data-driven economy demands that everyone in business comprehend the fundamental principles of data and confidently use that knowledge to drive business decisions,” said Andrew Perkins, Global Director of KPA. “This collaboration with our colleagues at Metis offers critical training in a format that can be customized to a client’s needs and provides self-assessment, formative feedback, and personalized skills coaching to support participants throughout their learning journey.”