Skillsoft Corporation (NASDAQ: SKIL): UK-based Edvantage group today purchased the Swedish business of SkillSoft,
the global e-Learning provider, to consolidate its position as the premier e-Learning provider in the Nordic region.
Kevin Young, managing director of SkillSoft, EMEA said:
ìThe decision to sell our Swedish operation to Edvantage group is in line with our strategy of going to market in key European regions via a partner network.
ìPrior to selecting our partners we undertake extensive research to establish that they are best of breed and have the strongest understanding of the local, regional and cultural issues facing organisations in their
regions. This business model has proved to be the most effective way to provide the highest level of service to our international client base whilst also resulting in solid year-on-year revenue growth for the company.
ìAs the leading e-Learning company in the Nordic region, Edvantage group was able to fulfil our criteria and has committed to invest in additional resources to meet the needs of our customers. We look forward to working
with the Edvantage group team and our customers to ensure future success.î
Thomas Berglund, CEO and co-founder of Edvantage group added:
ìSkillSoft is renowned worldwide for the breadth, quality and interoperability of its e-Learning portfolio. We have worked with SkillSoft for many years and are delighted to be making this acquisition. It will enhance our ability to assist our customers both in the Nordic area and across Europe to develop the management, business and IT skills of their employees. Together with Edvantageís original presence in Norway it moves us closer to achieving our aim to be the primary assembler and distributor of world class e-Learning content throughout the Nordic region.î
Claes Ytander, former MD of Skillsoft Sweden and now MD of Edvantage group Sweden, continued:
ìHaving a Swedish presence gives us an opportunity to expand our product and service offering to our existing market and customers.î
The acquisition follows a number of major customer wins by Edvantage, including a $200k contract with Oslo-based oil and energy company, Norsk Hydro, as the strategic e-learning partner for the delivery of e-Learning to
50,000 employees across 60 countries. An initial survey amongst 1300 managers at Norsk Hydro indicates that of the active users:
SKillSoft sells Swedish operation to Edvantage group
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