October 1, 2014 – Dublin, Ireland and Nashua, NH – Skillsoft Limited (“Skillsoft”), a pioneer in technology-delivered learning solutions, announced today that its subsidiary, Skillsoft Corporation, has completed its acquisition of SumTotal Systems, LLC from Vista Equity Partners (“Vista”), a U.S.-based private equity firm. 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, talent and workforce processes to organizations of all sizes. Terms of the transaction were not disclosed.
“Bringing Skillsoft and SumTotal together is an important development for our customers and the industry,” said Chuck Moran, CEO, Skillsoft. “The combined company will offer a comprehensive, content-rich solution that brings Skillsoft’s deep expertise in learning assets, methodologies and rich systems of engagement with SumTotal’s full suite of highly scalable, unified Talent Expansion solutions.”
“The human capital software market is changing rapidly,” said Mike Cooke, Chairman and CEO, Brandon Hall Group. “These systems are becoming integrated for learning and talent management, social and informal learning, collaboration and knowledge management. The acquisition of SumTotal Systems by Skillsoft brings together a robust learning management platform and a wide array of content, potentially embedding learning into talent management. I am confident in Skillsoft’s ability to execute on this bold vision.”
SumTotal will operate as a strategic business unit within Skillsoft, and SumTotal CEO Hardeep Gulati will report to Skillsoft Chief Operating Officer Jerry Nine. Gulati will act as the General Manager and Head of SumTotal, a Skillsoft Company.
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