Skillsoft
{{Short description|Educational technology company}}
{{Infobox company
| name = Skillsoft
{{cite news|
url=https://www.irishtimes.com/business/struggling-smartforce-to-merge-with-us-counterpart-1.1060179
|title=Struggling SmartForce to merge with US counterpart
|publisher=Irish Times|
date=2002-06-11 |
accessdate=2019-06-28
}}
| logo = Skillsoft-logo-navy-RGB .png
| type = Public
| traded_as = {{ubl|class=nowrap|{{NASDAQ|SKIL}} (Class A) }}
| industry = Software as a service
| founded = {{start date|1998|08|08}}{{citation needed|date=September 2021}}
| founder =
| hq_location = 300 Innovative Way, Suite 201{{Cite web |url=http://www.skillsoft.com/contact.asp |title=Contact Skillsoft to learn more about enterprise-wide education |access-date=2018-01-26 |archive-date=2018-01-26 |archive-url=https://web.archive.org/web/20180126185720/http://www.skillsoft.com/contact.asp |url-status=dead }}
| hq_location_city = Nashua, NH
| hq_location_country = United States
| key_people = Jeff Tarr (CEO/Director)
Richard Walker (CFO)
Mark Onisk (Chief Content Officer)
Apratim Purakayastha (CTO){{Cite web|url=https://www.skillsoft.com/leadership-team/|title=Skillsoft Leadership Team}}
| products = Educational technology, learning management systems, training content
| brands =
| services =
| revenue =
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| divisions =
| subsid = Codecademy
| website = {{URL|https://www.skillsoft.com/}}
}}
Skillsoft is an American educational technology 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.{{cite web |url=https://www.reuters.com/finance/stocks/company-officers/CVLT.OQ |title=Commvault Systems Inc (CVLT.OQ) Company officers |author= |date= |website=Reuters.com |publisher=Reuters |access-date=2019-06-28 |quote=}}
Skillsoft had an IPO 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.{{Cite press release|url=https://www.businesswire.com/news/home/20210607005410/en/Skillsoft-and-Churchill-Capital-Corp-II-Announce-Skillsoft%E2%80%99s-Post-Closing-Executive-Leadership-Team|title = Skillsoft and Churchill Capital Corp II Announce Skillsoft's Post-Closing Executive Leadership Team|date = 7 June 2021}}
Skillsoft acquired Books24x7 in 2001.{{cite web |title=goFLUENT Taps Former Skillsoft Executive as Part of Global Expansion |url=https://www.businesswire.com/news/home/20180904005060/en/goFLUENT-Taps-Skillsoft-Executive-Part-Global-Expansion |website=Business Wire |date=4 September 2018 |publisher=Business Wire |accessdate=20 February 2020}} In 2002, Skillsoft merged with Dublin-based IT courseware company SmartForce (formerly CBT Systems), with the combined company retaining the Skillsoft name, establishing a common headquarters in Ireland.{{Cite news |last=Taylor |first=Charlie |title=Dublin-headquartered Skillsoft files for Chapter 11 bankruptcy |url=https://www.irishtimes.com/business/technology/dublin-headquartered-skillsoft-files-for-chapter-11-bankruptcy-1.4280437 |access-date=2022-05-24 |newspaper=The Irish Times |language=en}} The company acquired NETg from Thomson Corporation in 2007.
In May 2010, the company was bought out for $1.2 billion by SSI Investments III Limited, a firm funded by Berkshire Partners, Advent International and Bain Capital. Skillsoft acquired Element K from NIIT in October 2011, and MindLeaders from ThirdForce Group in September 2012.
Skillsoft was sold by Berkshire Partners to Charterhouse Capital Partners for $2.0 billion on April 28, 2014. Later that year, Skillsoft acquired SumTotal Systems 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.{{Cite web|url=http://www.dqindia.com/skillsoft-unveils-new-virtual-coding-practice-labs/|title=Skillsoft Unveils New Virtual Coding Practice LabsDATAQUEST|website=www.dqindia.com|date=18 September 2017|language=en-US|access-date=2017-10-13}}{{Cite news|url=https://www.lifehacker.com.au/2017/09/skillsoft-opens-new-coding-practice-lab/|title=Skillsoft Opens New Coding Practice Lab|date=2017-09-18|work=Lifehacker Australia|access-date=2017-10-13|language=en}}
On June 14, 2020, Skillsoft voluntarily filed for Chapter 11 bankruptcy protection in the United States.{{Cite news|date=2020-06-15|title=E-learning company Skillsoft files for Chapter 11 bankruptcy|language=en|work=Reuters|url=https://www.reuters.com/article/us-skillsoft-bankruptcy-idUSKBN23M0FN|access-date=2020-11-17}} 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.{{cite web |last1=Majid |first1=Anigah |title=How Skillsoft got in and out of bankruptcy in just over 2 months |url=https://news.elearninginside.com/how-skillsoft-got-in-and-out-of-bankruptcy-in-just-over-2-months/ |website=Elearning Inside |date=4 September 2020 |accessdate=20 November 2020}}
In June 2021, Skillsoft was acquired by Churchill Capital. Churchill Capital then merged with Software Luxembourg, then acquired the Global Knowledge technical training platform.{{cite web | url=https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/churchill-capital-to-merge-with-software-luxembourg-buy-global-knowledge-60709734 | title=Churchill Capital to merge with Software Luxembourg, buy Global Knowledge }} The combined company would be known as Skillsoft. Leadership coaching platform Pluma was also acquired that same year.{{Cite web |last=Burton |first=Amber |date=2022-05-09 |title=Ed tech looks a lot like Netflix |url=https://www.protocol.com/workplace/skillsoft-corporate-learning-consolidate |access-date=2022-05-24 |website=Protocol |language=en}}
In December 2021, Skillsoft announced that it would acquire Codecademy, an online computer programming learning platform, for approximately $525 million in cash and stock.{{Cite press release|url=https://www.skillsoft.com/press-releases/skillsoft-to-acquire-codecademy-a-leading-platform-for-learning-high-demand-technical-skills-creating-a-worldwide-community-of-more-than-85-million-learners|title=Skillsoft to Acquire Codecademy, a Leading Platform for Learning High-Demand Technical Skills, Creating a Worldwide Community of More Than 85 Million Learners|access-date=2021-12-22|publisher=Skillsoft}} The sale was completed on April 5, 2022.{{cite press release|title=Skillsoft Completes Acquisition of Codecademy|url=https://www.businesswire.com/news/home/20220404006017/en/Skillsoft-Completes-Acquisition-of-Codecademy|date=April 5, 2022|publisher=Skillsoft Corp|via=Business Wire}}
In 2022, Skillsoft sold SumTotal to Cornerstone on Demand for $200 million.{{cite web | url=https://joshbersin.com/2022/06/cornerstone-acquires-sumtotal-for-200-million/ | title=Cornerstone Acquires SumTotal for $200 Million | date=13 June 2022 }}