Skillsoft (NYSE: SKIL), a global provider of corporate digital learning, has acquired Codecademy, an online learning platform for technical skills, for $525 million in cash and stock.
Codecademy is a popular learning platform providing high-demand technical skills to over 40 million registered learners across the globe. The firm provides interactive, self-paced courses and hands on learning in 14 programming languages across multiple domains. The firm has also proved it can expand to deliver new skills at scale.
“Codecademy will significantly expand Skillsoft’s capabilities in the high-growth tech & dev segment,” said Jeffrey Tarr, CEO of Skillsoft. “Strategic acquisitions are an important part of our growth strategy.
“We have helped tens of millions of people around the world learn new technology skills,” added Zach Sims, founder and CEO of Codecademy. “Together with Skillsoft, we will have the opportunity to rapidly increase the size of our content library and scale Codecademy across the millions of learners and thousands of companies.”
Barclays is serving as the exclusive financial advisor to Skillsoft, Citigroup is serving as capital markets advisor and Weil, Gotshal & Manges LLP is serving as legal counsel to Skillsoft.