Acquisition creates significant cross-selling opportunities and should be immediately accretive to Skillsoft’s bookings, revenue growth and gross margins
Skillsoft, a global leader in digital enterprise learning, today announced that it has completed the acquisition of Codecademy, a leading e-learning platform for technical skills.
The addition of Codecademy’s innovative and popular learning platform brings scalable, interactive courses and hands-on learning to Skillsoft’s existing offering and addresses users’ deep-seated needs for modern technical skills in 14 coding languages as well than in the cloud, cybersecurity and data science.
The acquisition creates significant cross-selling opportunities and should be immediately accretive to Skillsoft’s bookings, revenue and gross margin growth. The company plans to begin offering enterprise customers an integrated solution in the coming weeks.
“It’s an exciting day for Skillsoft as we take another important step forward in advancing our growth strategy with the addition of one of the leading learning platforms for Tech & Dev skills,” said Jeffrey Tarr. , CEO of Skillsoft. “We are thrilled to welcome Codecademy Founder and CEO Zach Sims to the Skillsoft leadership team and our new Codecademy colleagues at Skillsoft. Our two strong teams position us together to fuel the continued growth of employees and their businesses through learning experiences that are deeply absorbing and deliver exponential returns on time and effort while helping organizations close critical gaps. in technical skills.
“Codecademy is entering its next chapter as part of Skillsoft, and we see a bright future with greater resources and new opportunities for growth,” said Sims. “We are excited to bring interactive technical learning to thousands of companies and their employees worldwide, as well as to expand our product and content offerings to better serve Codecademy learners throughout their career in technology. By joining forces with Skillsoft, we are in an even stronger position to advance our collective mission and empower today’s workforce – including individuals and organizations – with the skills of tomorrow.
Barclays acted as exclusive financial advisor to Skillsoft, Citigroup acted as capital markets advisor and Weil, Gotshal & Manges LLP acted as legal advisor to Skillsoft.