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Skillsoft
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Skillsoft is an American educational technology company that produces learning management system software and content.
Key Information
History
[edit]Skillsoft was founded by Charles Moran in 1998. Moran served as chief executive officer and President from 1998 to 2015.[5]
Skillsoft had an IPO under the stock symbol SKIL in February 2000[6] and a SPO in July 2001.[7][8] In June 2021, Skillsoft became a publicly traded company once again under the same stock symbol.[9]
Skillsoft acquired Books24x7 in 2001.[10] In 2002, Skillsoft merged with Dublin-based IT courseware company SmartForce (formerly CBT Systems), with the combined company retaining the Skillsoft name,[11] establishing a common headquarters in Ireland.[12] The company acquired NETg from Thomson Corporation in 2007.[11]
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.[13][14] Skillsoft acquired Element K from NIIT in October 2011, and MindLeaders from ThirdForce Group in September 2012.[13]
Skillsoft was sold by Berkshire Partners to Charterhouse Capital Partners for $2.0 billion on April 28, 2014.[13] Later that year, Skillsoft acquired SumTotal Systems in September 2014.[15] In May 2015, Skillsoft acquired Vodeclic SAS.[16]
In September 2017, Skillsoft launched virtual coding practice lab CodeX, which provides coding exercises with embedded video content.[17][18]
On June 14, 2020, Skillsoft voluntarily filed for Chapter 11 bankruptcy protection in the United States.[19] 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.[20]
In June 2021, Skillsoft was acquired by Churchill Capital. Churchill Capital then merged with Software Luxembourg, then acquired the Global Knowledge technical training platform.[9][21] The combined company would be known as Skillsoft. Leadership coaching platform Pluma was also acquired that same year.[22]
In December 2021, Skillsoft announced that it would acquire Codecademy, an online computer programming learning platform, for approximately $525 million in cash and stock.[23] The sale was completed on April 5, 2022.[24]
In 2022, Skillsoft sold SumTotal to Cornerstone on Demand for $200 million...[25]
References
[edit]- ^ "Struggling SmartForce to merge with US counterpart". Irish Times. 2002-06-11. Retrieved 2019-06-28.
- ^ "Contact Skillsoft to learn more about enterprise-wide education". Archived from the original on 2018-01-26. Retrieved 2018-01-26.
- ^ "Skillsoft Corporation Company Information". Hoovers. Retrieved 17 June 2015.
- ^ "Skillsoft Leadership Team".
- ^ "Commvault Systems Inc (CVLT.OQ) Company officers". Reuters.com. Reuters. Retrieved 2019-06-28.
- ^ "Skillsoft Corp (SKIL) IPO". NASDAQ. Retrieved 19 June 2015.
- ^ "Skillsoft Corp (SKIL) SPO". NASDAQ. Retrieved 19 June 2015.
- ^ Brown, Rodney H. (February 15, 2010). "SkillSoft to go private in $1B buyout from Bain and partners". Boston Business Journal. Retrieved 19 June 2015.
- ^ a b "Skillsoft and Churchill Capital Corp II Announce Skillsoft's Post-Closing Executive Leadership Team" (Press release). 7 June 2021.
- ^ "goFLUENT Taps Former Skillsoft Executive as Part of Global Expansion". Business Wire. Business Wire. 4 September 2018. Retrieved 20 February 2020.
- ^ a b "About Skillsoft". Skillsoft. Retrieved 17 June 2015.
- ^ Taylor, Charlie. "Dublin-headquartered Skillsoft files for Chapter 11 bankruptcy". The Irish Times. Retrieved 2022-05-24.
- ^ a b c "Skillsoft". Berkshire Partners. Retrieved 17 June 2015.
- ^ Suria, Asif (April 6, 2010). "Merger Arbitrage Mondays: April 5, 2010". Seeking Alpha. Retrieved 19 June 2015.
- ^ Bersin, Josh (October 1, 2014). "Skillsoft Acquisition of SumTotal: Corporate Training Market Disruption?". Forbes. Retrieved 17 June 2015.
- ^ "Skillsoft Announces Acquisition of Vodeclic". BusinessWire. Berkshire Hathaway. May 7, 2015. Retrieved 17 June 2015.
- ^ "Skillsoft Unveils New Virtual Coding Practice LabsDATAQUEST". www.dqindia.com. 18 September 2017. Retrieved 2017-10-13.
- ^ "Skillsoft Opens New Coding Practice Lab". Lifehacker Australia. 2017-09-18. Retrieved 2017-10-13.
- ^ "E-learning company Skillsoft files for Chapter 11 bankruptcy". Reuters. 2020-06-15. Retrieved 2020-11-17.
- ^ Majid, Anigah (4 September 2020). "How Skillsoft got in and out of bankruptcy in just over 2 months". Elearning Inside. Retrieved 20 November 2020.
- ^ "Churchill Capital to merge with Software Luxembourg, buy Global Knowledge".
- ^ Burton, Amber (2022-05-09). "Ed tech looks a lot like Netflix". Protocol. Retrieved 2022-05-24.
- ^ "Skillsoft to Acquire Codecademy, a Leading Platform for Learning High-Demand Technical Skills, Creating a Worldwide Community of More Than 85 Million Learners" (Press release). Skillsoft. Retrieved 2021-12-22.
- ^ "Skillsoft Completes Acquisition of Codecademy" (Press release). Skillsoft Corp. April 5, 2022 – via Business Wire.
- ^ "Cornerstone Acquires SumTotal for $200 Million". 13 June 2022.
Skillsoft
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Company Overview
Founding and Headquarters
Skillsoft was founded on August 8, 1998, by Charles Moran as a Delaware corporation in Nashua, New Hampshire, USA, initially operating as a provider of off-the-shelf e-learning content for corporate training.[8][9] The company emerged during the early growth of internet-based education, aiming to deliver accessible training solutions to businesses seeking to upskill their workforces efficiently.[10] From its inception, Skillsoft focused on developing interactive online courses covering business skills, compliance, and IT training, specifically targeting enterprise clients to address their professional development needs.[10] These offerings emphasized asynchronous learning modules that allowed users to engage with content at their own pace, setting the foundation for scalable digital training platforms. Early products included courseware designed to build practical competencies in management and technical areas, reflecting the company's commitment to high-quality, ready-to-deploy educational resources.[11] The headquarters were established in Nashua, New Hampshire, where initial operations centered on content creation, curriculum development, and delivery through web-based platforms to support corporate learners globally.[9] Charles Moran served as the founding CEO, leading the company until 2015 and prioritizing the expansion of scalable digital learning solutions that could integrate seamlessly into enterprise environments.[11] This foundational approach propelled Skillsoft toward its public listing in 2000, marking an early milestone in its growth as a key player in the e-learning sector.[8]Corporate Structure and Operations
Skillsoft Corp. is a publicly traded company listed on the New York Stock Exchange under the ticker symbol SKIL since June 14, 2021, following the completion of a business combination through a special purpose acquisition company (SPAC) merger with Churchill Capital Corp II on June 11, 2021.[12] This structure positions Skillsoft as a SaaS provider in the corporate learning and talent development sector, with its corporate headquarters in Nashua, New Hampshire. The company's organizational setup emphasizes a global footprint, with approximately 2,261 employees as of January 31, 2025, including 2,200 full-time and 61 part-time or project-based roles, distributed across operations in North America, Europe, and the Asia-Pacific region.[13][4] The corporate structure incorporates key subsidiaries to enhance its offerings in technical and professional skills development. Codecademy, acquired on April 5, 2022, for approximately $525 million in a mix of cash and stock, serves as a core subsidiary focused on interactive coding and technical skills platforms, integrating seamlessly into Skillsoft's broader ecosystem.[14][15] Global Knowledge, integrated through the 2021 merger, continues to provide core IT training capabilities, including technical certifications and virtual instructor-led training.[4] These subsidiaries support Skillsoft's emphasis on multimodal learning delivery, with direct sales coverage in North America and most of Europe, alongside dedicated teams in India and Australia.[13] Skillsoft's primary revenue model relies on a subscription-based SaaS approach, centered on learning management systems (LMS) and content licensing tailored for enterprise clients. For fiscal year 2025, ending January 31, 2025, the company reported total revenue of $531 million, reflecting a slight decline from $553 million in the prior year but demonstrating resilience in its core segments.[16] This model drives recurring income through annual subscriptions, with additional contributions from professional services and certifications. Globally, Skillsoft supports thousands of organizations, including approximately 60% of the Fortune 1000, through B2B sales focused on workforce upskilling and compliance training across more than 160 countries.[17] The company's operations were bolstered by a 2020 Chapter 11 bankruptcy filing that reduced its debt by about $1.5 billion, enabling a leaner structure for post-merger growth.[18]History
Early Development and Public Listing
Skillsoft went public in January 2000 through an initial public offering (IPO) on the Nasdaq under the ticker symbol SKIL, pricing 3.1 million shares at $14 each and raising approximately $40 million in net proceeds primarily to expand its content offerings and support working capital needs.[19] The IPO occurred amid the height of the dot-com boom, positioning the company as a key player in the burgeoning e-learning market focused on off-the-shelf corporate training software.[19] In July 2001, Skillsoft conducted a secondary public offering (SPO), raising an additional $88 million to further bolster its growth initiatives and competitive positioning in the e-learning sector.[20] This capital infusion supported the company's shift toward developing comprehensive e-learning suites, moving beyond initial soft skills content to integrated platforms for business and IT training. As part of this evolution, Skillsoft acquired Books24x7 in December 2001 for $32 million in a stock-and-cash deal, integrating its digital library of over 1,500 unabridged books and reference materials to enhance user access to on-demand learning resources.[21] The company's trajectory advanced significantly in September 2002 with its merger with SmartForce PLC, an Ireland-based provider of simulation-based e-learning solutions, in a stock swap valued at approximately $220 million; SmartForce shareholders received about 58% ownership of the combined entity.[22] The merger, completed on September 6, 2002, resulted in the formation of SkillSoft Public Limited Company, headquartered in Ireland, which broadened the product portfolio to include advanced simulation training alongside Skillsoft's existing courseware libraries.[23] This strategic combination aimed to create a leading end-to-end e-learning provider, though it faced immediate scrutiny from Nasdaq over delayed regulatory filings related to the integration.[24] The early 2000s recession, following the dot-com bust, presented substantial challenges for Skillsoft, including declining stock performance and intensified market pressures on e-learning vendors as corporate training budgets tightened.[25] Despite these headwinds, the company maintained its public status, focusing on content integration and operational efficiencies to navigate the economic downturn.[10]Acquisitions and Expansion (2000s–2010s)
In the mid-2000s, Skillsoft pursued strategic acquisitions to broaden its e-learning offerings, beginning with the purchase of NETg from The Thomson Corporation in May 2007 for approximately $270 million in cash.[26] This deal integrated NETg's extensive library of compliance training and IT certification courses, significantly enhancing Skillsoft's portfolio in regulated industries and technical skills development. By 2010, Skillsoft transitioned to private ownership when it was acquired by SSI Investments III Limited—a consortium including Berkshire Partners, Advent International, and Bain Capital—for about $1.2 billion, marking a shift from public markets to support long-term growth initiatives.[27] This ownership change facilitated further expansion, including the 2011 acquisition of Element K from NIIT for roughly $110 million, which added multimedia-rich learning modules and advanced platform technologies to Skillsoft's ecosystem.[28] The integration bolstered Skillsoft's capabilities in interactive content delivery and user interface improvements, targeting small and medium-sized enterprises.[29] In 2012, Skillsoft acquired MindLeaders from ThirdForce Group plc in an all-cash transaction (terms undisclosed), incorporating specialized legal and compliance training solutions to address growing demand in risk management and regulatory adherence.[30] This move strengthened Skillsoft's position in certification-focused markets, particularly in the U.S. and U.K.[31] Expansion continued with the October 2014 acquisition of SumTotal Systems from Vista Equity Partners (price undisclosed), which brought talent management software and human capital platforms, enabling a more integrated approach to enterprise learning.[32] In May 2015, Skillsoft followed with the purchase of Vodeclic SAS (terms undisclosed), adding over 25,000 multilingual how-to video courses that emphasized language learning and digital skills training across six languages.[33] These acquisitions were underpinned by ownership transitions, culminating in the April 2014 sale to funds managed by Charterhouse Capital Partners for approximately $2.3 billion, which provided capital for aggressive content and technology scaling.[34] Under this structure, Skillsoft's market reach expanded to serve over 10,000 organizations globally by the mid-2010s, focusing on compliance, IT, and multimedia assets without delving into later restructuring.[35]Restructuring and Modern Era (2020s)
In June 2020, Skillsoft filed for pre-packaged Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware to address its approximately $1.5 billion debt reduction needs amid financial pressures from the COVID-19 pandemic and prior leveraged buyout obligations.[36][18] The restructuring, supported by a agreement with key lenders, eliminated about $100 million in annual interest expenses and streamlined the company's balance sheet, allowing Skillsoft to emerge from bankruptcy on August 27, 2020, with enhanced liquidity and a more sustainable capital structure.[37] Following its emergence, Skillsoft pursued a public relisting through a special purpose acquisition company (SPAC) merger with Churchill Capital Corp II, announced in October 2020 and completed on June 11, 2021, which valued the combined entity at around $1.3 billion and resulted in trading on the New York Stock Exchange under the ticker SKIL.[12] This transaction integrated Skillsoft with Global Knowledge, a provider of IT and professional training, for $258 million, and Pluma, a leadership development platform, expanding its multimodal learning offerings and positioning it as a comprehensive digital learning provider.[38] In 2022, Skillsoft divested its SumTotal human capital management subsidiary to Cornerstone OnDemand for $200 million, closing the deal on August 16, to sharpen focus on core content and technology-driven learning solutions.[39] Later that year, on April 5, 2022, Skillsoft acquired Codecademy for $525 million in cash and stock, incorporating its interactive coding platform with courses in 14 languages, cloud computing, cybersecurity, and data science to bolster tech skills training and create cross-selling opportunities across its user base of over 85 million learners.[14] Entering the mid-2020s, Skillsoft shifted toward AI-native solutions to address evolving workforce needs, launching an AI-powered Skills Intelligence Platform on September 16, 2025, designed to map human and AI capabilities for better skills visibility.[40] This pivot was informed by the company's 2025 Global Skills Intelligence Survey, conducted from May to July 2025 with over 1,000 HR and L&D leaders, which revealed significant skills gaps in AI (cited by 30% of UK respondents) and leadership, threatening business growth amid limited workforce visibility.[41][42] Financially, Skillsoft reported a Q2 FY2025 net loss of $40 million on revenue of $132 million, down 6% year-over-year due to economic uncertainty, but achieved adjusted EBITDA of $28 million (21% margin).[43] In Q3 FY2025, revenue stabilized at $137 million (down 1% year-over-year overall but with growth in Talent Development Solutions), alongside adjusted EBITDA expansion to $32 million (23% margin), reflecting improved profitability and strategic cost reductions of $45 million.[44]Products and Services
Core Platforms
Skillsoft's core platforms form the foundational technology infrastructure for delivering scalable, enterprise-grade learning experiences, with a strong emphasis on learning management systems (LMS) and seamless integrations. The Percipio platform serves as the flagship AI-native LMS, designed to provide personalized learning paths tailored to individual learner needs and organizational goals. It leverages artificial intelligence to map skills across the workforce, identifying gaps and recommending targeted content to enhance proficiency in areas such as compliance, leadership, and digital skills.[45] Additionally, Percipio includes robust analytics tools that go beyond traditional completion metrics, offering real-time insights into skill development and enabling organizations to track return on investment (ROI) through measurable outcomes like capability improvements and business impact.[45] Complementing Percipio, Skillforce represents an enterprise-oriented extension that integrates human and AI agents into a unified framework for skill-building initiatives. This platform facilitates real-time intelligence gathering on workforce capabilities, allowing for rapid mobilization of talent and AI resources to address project demands and strategic priorities. By combining human expertise with AI-driven augmentation, Skillforce supports faster capability development, particularly in dynamic environments requiring agile responses to skill shortages.[46] Skillsoft's platforms emphasize extensive integration capabilities to ensure compatibility with existing enterprise ecosystems, primarily through API support for major HR systems. For instance, Percipio integrates with Workday to synchronize learner data, automate content delivery, and track progress within HR workflows, streamlining deployment for large organizations. Similarly, connections to Salesforce enable the embedding of learning modules into sales and customer success processes, fostering just-in-time training without disrupting daily operations. These integrations facilitate seamless adoption across diverse organizational structures, enhancing accessibility for compliance training, leadership development, and digital upskilling programs.[47][48] The evolution of Skillsoft's core platforms reflects a strategic shift from legacy on-premise systems to a fully cloud-based Software as a Service (SaaS) model, accelerated following the 2014 acquisition and subsequent integration of SumTotal Systems' talent management technologies. This transition culminated in the development of Percipio as a modern, microservices-based architecture utilizing technologies like Elastic Search and Ruby on Rails, which supports scalable, AI-enhanced delivery of learning content derived from historical acquisitions. Today, these platforms primarily serve enterprise needs in compliance, leadership, and digital skills training through a flexible, cloud-native infrastructure that prioritizes accessibility and data-driven optimization.[49]Content and AI-Driven Solutions
Skillsoft maintains an extensive content library comprising thousands of courses and learning assets focused on business, IT, leadership, compliance, and technology skills. This includes interactive modules on topics such as management, productivity, data analytics, cybersecurity, cloud computing, and programming languages like Python and Java. Through its acquisition of Codecademy, Skillsoft integrates hands-on coding experiences, offering immersive paths in web development, AI, and machine learning to build practical tech proficiency.[50][51][52] A key AI-driven innovation is CAISY™, an AI-powered conversation simulator that enables learners to practice high-stakes scenarios in a safe environment. Users select roles and respond to AI-generated prompts in real-time, receiving adaptive feedback on communication effectiveness, strengths, and improvement areas. Examples include handling difficult conversations, delegating tasks for tech leaders, and managing AI implementation responsibly, supporting skill development in leadership and interpersonal dynamics.[53][54] The Skills Readiness Assessment tool evaluates organizational workforce skills gaps and future-readiness by benchmarking proficiency against strategic needs. Informed by Skillsoft's 2025 Global Skills Intelligence Survey, which found only 10% of HR leaders confident in their teams' ability to meet business goals amid widening gaps in leadership, AI, and technical areas, the assessment highlights misalignments and recommends targeted upskilling. The survey also revealed that 91% of employees may overstate their skills, particularly in AI and leadership, underscoring the need for objective measurement.[41][55][56] Skillsoft's AI features emphasize real-time skills intelligence, personalized learning recommendations, and ROI measurement to drive enterprise upskilling in AI, leadership, and digital transformation. The platform tracks skill proficiency across human and AI contributors, matches talent to projects, and quantifies training impact through data analytics, enabling organizations to align development with business outcomes. Content and simulations are delivered via the Percipio platform for seamless access.[50][45][57]Leadership and Governance
Executive Team
Ronald W. Hovsepian has served as Chief Executive Officer of Skillsoft since April 2024, where he oversees the company's strategic direction, including the integration of artificial intelligence into learning platforms and efforts to expand global market presence through partnerships such as with AWS and SAP SuccessFactors.[58][59] With over three decades in technology leadership, Hovsepian previously served as President and CEO of Indigo Ag from 2020 to 2024 and as President and CEO of Intralinks from 2011 to 2017, alongside earlier roles at Novell and IBM.[60][61] John Frederick serves as Chief Financial Officer, appointed in May 2025, managing Skillsoft's financial operations, including fiscal 2025 results that reported adjusted EBITDA growth and reaffirmed revenue guidance for the year.[62][63] Frederick brings more than three decades of finance experience, previously holding roles such as Chief Transformation Officer at Skillsoft and positions in investment partnerships. Ciara Harrington is Chief People Officer, a position she has held since joining Skillsoft in 2022, focusing on internal talent development, workforce transformation, and upskilling initiatives to address skill gaps in areas like AI.[64][65] With over 20 years in HR, Harrington previously led people strategies at Syngenta and Dell, emphasizing diversity, equity, and inclusion efforts amid rising demand for related training.[66][67] Other key executives include Richard Walker, who served as CFO from 2022 until May 2025, contributing to financial strategy during the company's restructuring in the 2020s before transitioning to advisory roles.[68][69] Mark Onisk, Chief Content Officer since 2018, oversees the development and strategic direction of Skillsoft's content catalog, including solutions for compliance training and AI skilling programs.[70][71]Board of Directors
Skillsoft's Board of Directors consists of nine members as of November 2025, comprising a mix of independent directors and representatives from key investors, such as Prosus, reflecting the company's strategic partnerships following Skillsoft's 2021 acquisition of Codecademy.[72] The board structure emphasizes independence, with a majority of independent directors to align with New York Stock Exchange (NYSE) listing standards, and includes diverse expertise in technology, finance, education, and public policy.[72][73] The board is led by Executive Chair Ronald W. Hovsepian, who brings extensive edtech and software leadership experience from roles at Novell, Intralinks, and Indigo Ag.[72] Key members include Denis Nikolaev and Paul Peake, representing Prosus's interests in digital learning investments; Michael Klein, a founder of Churchill Capital Corp., providing continuity from the 2021 SPAC merger that took Skillsoft public; and independent directors like Helena Foulkes, former CEO of Hudson’s Bay Company, and Larry Summers, former U.S. Treasury Secretary. On November 15, 2025, Fahd Beg resigned from the board, and Denis Nikolaev, a Managing Director at Prosus N.V. with over 20 years of experience in technology and internet sectors and as a former Citigroup banker, was appointed as a Class II director to fill the vacancy.[72][74][75] Other notable directors are Jim Frankola, with finance expertise from Cloudera and Ariba; Karen Mills, former SBA Administrator; and Peter Schmitt, an industrial advisor at EQT Partners.[72][74]| Director Name | Role/Background Highlights | Affiliation/Expertise |
|---|---|---|
| Ronald W. Hovsepian | Executive Chair; CEO of Indigo Ag (2020–2024) | Technology leadership, edtech |
| Denis Nikolaev | Director; Managing Director at Prosus N.V. | Digital investments, technology |
| Helena Foulkes | Independent Director; CEO of Hudson’s Bay (2018–2020) | Retail, healthcare, governance |
| Jim Frankola | Director; CFO at Cloudera (2019–2023) | Finance, technology operations |
| Michael Klein | Director; Founder of Churchill Capital Corp. | Investment banking, SPAC expertise |
| Karen Mills | Independent Director; SBA Administrator (2009–2013) | Public policy, finance |
| Paul Peake | Director; General Counsel at Prosus | Legal, corporate governance |
| Peter Schmitt | Director; Advisor at EQT Partners | Industrial strategy, M&A |
| Larry Summers | Independent Director; Former U.S. Treasury Secretary | Economics, public policy |