Skillsoft

Skillsoft is an American educational technology company that produces learning management system software and content.

Skillsoft Limited
FormerlySmartForce[1]
TypePrivate
IndustrySoftware as a service
FoundedAugust 8, 1998 (1998-08-08)[2]
Headquarters300 Innovative Way, Suite 201[3],
Nashua, NH
,
United States[4]
Key people
Ronald Hovsepian, Executive Chairman
John Frederick, Chief Administrative Officer
Bobby Jenkins, Chief Financial Officer[5]
ProductsEducational technology, learning management systems, training content
OwnerCharterhouse Capital Partners (as of April 2014)
Number of employees
 (as of 2014)
Websitewww.skillsoft.com

History

Skillsoft was founded by Charles Moran in 1998. Moran served as Chief Executive Officer and President from 1998 to 2015.[6]

Skillsoft had an IPO under the stock symbol SKIL in February 2000[7] and a SPO in July 2001.[8][9]

Skillsoft acquired Books24x7 in 2001.[10] In 2002, Skillsoft merged with IT courseware company SmartForce (formerly CBT Systems), with the combined company retaining the Skillsoft name.[11] The company acquired NETg from Thomson Corporation in 2007.[11]

In May 2010, the company was bought out for US$1.2 billion by SSI Investments III Limited, a firm funded by Berkshire Partners, Advent International and Bain Capital.[12][13] Skillsoft acquired Element K from NIIT in October 2011, and MindLeaders from ThirdForce Group in September 2012.[12]

Skillsoft was sold by Berkshire Partners to Charterhouse Capital Partners for US$2.0 Billion on April 28, 2014.[12][2] Later that year, Skillsoft acquired SumTotal Systems in September 2014.[14] In May 2015, Skillsoft acquired Vodeclic SAS.[15]

In September 2017, Skillsoft launched virtual coding practice lab CodeX, which provides coding exercises with embedded video content.[16][17]

On June 14, 2020, Skillsoft voluntarily filed for Chapter 11 bankruptcy protection in the United States.[18] 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.[19]

References
  1. "Struggling SmartForce to merge with US counterpart". Irish Times. 2002-06-11. Retrieved 2019-06-28.
  2. "SkillSoft". CrunchBase. Retrieved 17 June 2015.
  3. http://www.skillsoft.com/contact.asp
  4. "Skillsoft Corporation Company Information". Hoovers. Retrieved 17 June 2015.
  5. https://www.skillsoft.com/leadership-team/
  6. "Commvault Systems Inc (CVLT.OQ) Company officers". Reuters.com. Reuters. Retrieved 2019-06-28.
  7. "Skillsoft Corp (SKIL) IPO". NASDAQ. Retrieved 19 June 2015.
  8. "Skillsoft Corp (SKIL) SPO". NASDAQ. Retrieved 19 June 2015.
  9. Brown, Rodney H. (February 15, 2010). "SkillSoft to go private in $1B buyout from Bain and partners". Boston Business Journal. Retrieved 19 June 2015.
  10. "goFLUENT Taps Former Skillsoft Executive as Part of Global Expansion". Business Wire. Business Wire. Retrieved 20 February 2020.
  11. "About Skillsoft". Skillsoft. Retrieved 17 June 2015.
  12. "Skillsoft". Berkshire Partners. Retrieved 17 June 2015.
  13. Suria, Asif (April 6, 2010). "Merger Arbitrage Mondays: April 5, 2010". Seeking Alpha. Retrieved 19 June 2015.
  14. Bersin, Josh (October 1, 2014). "Skillsoft Acquisition of SumTotal: Corporate Training Market Disruption?". Forbes. Retrieved 17 June 2015.
  15. "Skillsoft Announces Acquisition of Vodeclic". BusinessWire. Berkshire Hathaway. May 7, 2015. Retrieved 17 June 2015.
  16. "Skillsoft Unveils New Virtual Coding Practice LabsDATAQUEST". www.dqindia.com. Retrieved 2017-10-13.
  17. "Skillsoft Opens New Coding Practice Lab". Lifehacker Australia. 2017-09-18. Retrieved 2017-10-13.
  18. Reuters Staff (2020-06-15). "E-learning company Skillsoft files for Chapter 11 bankruptcy". Reuters. Retrieved 2020-11-17.
  19. Majid, Anigah. "How Skillsoft got in and out of bankruptcy in just over 2 months". Elearning Inside. Retrieved 20 November 2020.
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