05
April
2022
|
23:00
Europe/Amsterdam

Skillsoft completes acquisition of Codecademy

Skillsoft completes acquisition of Codecademy

  • Immediately accretive to bookings, revenue growth, and gross margins
  • Creates a worldwide community of more than 90 million learners
  • Significantly expands capabilities in high-growth Technology & Developer segment

Skillsoft Corp. (NYSE: SKIL) (“Skillsoft” or the “Company”), a global leader in corporate digital learning, today announced it has completed its acquisition of Codecademy, a leading online 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 deep user needs for modern technical skills in 14 coding languages as well as cloud, cybersecurity, and data science.

The acquisition creates substantial cross-selling opportunities and is expected to be immediately accretive to Skillsoft’s bookings and revenue growth and gross margins. The Company expects to begin offering enterprise customers an integrated solution in the coming weeks.

“This is an exciting day for Skillsoft as we take another significant step to advance our growth strategy with the addition of one of the foremost learning platforms for Tech & Dev skills,” said Jeffrey Tarr, CEO of Skillsoft. “We are delighted to welcome Codecademy’s founder and CEO Zach Sims to Skillsoft’s executive leadership team and our new Codecademy colleagues to Skillsoft. Our two strong teams together position us to fuel continuous growth for employees and their companies through learning experiences that are deeply absorbing and deliver exponential returns on time and effort while helping organisations address critical technical skills gaps.”

“Codecademy is embarking on our next chapter as a part of Skillsoft, and we see a bright future ahead with greater resources and new growth opportunities,” said Mr Sims. “We are excited to bring interactive technical learning to thousands of companies and their employees worldwide, as well as expand our product and content offerings to better serve Codecademy learners throughout their careers 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 both individuals and organisations – with the skills for tomorrow.”

Barclays served as the exclusive financial advisor to Skillsoft, Citigroup served as capital markets advisor and Weil, Gotshal & Manges LLP served as legal counsel to Skillsoft.

About Skillsoft

Skillsoft (NYSE: SKIL) 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 organisations for the future of work, overcome critical skill gaps, drive demonstrable behaviour change, and unlock the potential in their people. Skillsoft offers a comprehensive suite of premium, original, and authorised 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, boot camps, live events, and practice labs), organisations 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. 

Learn more at www.skillsoft.com.

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About Prosus:

Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities.

The group is focused on building meaningful businesses in the online classifieds, food delivery, payments and fintech, and education technology sectors in markets including India, Russia, and Brazil. Through its ventures team, Prosus invests in areas including health, logistics, blockchain, and social commerce. Prosus actively seeks new opportunities to partner with exceptional entrepreneurs who are using technology to improve people’s everyday lives.

Every day, billions of customers use the products and services of companies that Prosus has invested in, acquired or built, including 99minutos,  Airmeet, Aruna, AutoTrader, Autovit.ro, Azos, BandLab, Bibit, Biome Makers, Borneo, Brainly, BUX, BYJU'S, Bykea, Captain Fresh, Codecademy, Collective Benefits, Creditas, DappRadar, DeHaat, Detect Technologies, Domofond.ru, dott, EduMe, ElasticRun, eMAG, Endowus, Eruditus, EVERY, Facily, Flink, Foodics, Good Glamm Group, GoodHabitz, GoStudent, Honor, iFood, Imovirtual, Klar, Kovi, LazyPay, letgo, Luno, Mensa Brands, Meesho, merXu, Movile, Oda, OLX, Otodom, OTOMOTO, PaySense, PayU, Pharmeasy, Platzi, Property24, Quick Ride, Red Dot Payment, Republic, Sharebite, Shipper, ShopUp, SoloLearn, Stack Overflow, Standvirtual, Superside, Swiggy, Thndr, Tonik, Ula, Urban Company, Vegrow, watchTowr, Wayflyer, and Wolt.

Hundreds of millions of people have made the platforms of Prosus’s associates a part of their daily lives. For listed companies where we have an interest, please see: Tencent, Delivery Hero, Remitly, Trip.com, Udemy, Skillsoft, Sinch, and SimilarWeb.

Today, Prosus companies and associates help improve the lives of more than two billion people around the world.

Prosus has a primary listing on Euronext Amsterdam (AEX:PRX) and secondary listings on the Johannesburg Stock Exchange (XJSE:PRX) and a2X Markets (PRX.AJ). Prosus is majority-owned by Naspers.

For more information, please visit www.prosus.com.

About Prosus

Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities.

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