SKIL - Skillsoft acquires Codecademy for $525M in cash and stock deal reaffirms FY2022 outlook

Skillsoft (NYSE:SKIL) has acquired Codecademy for approximately $525M, comprising of approximately 40% cash and 60% equity. Codecademy is an innovative and popular learning platform providing high-demand technical skills to approximately 40M registered learners in nearly every country worldwide. The transaction is expected to be immediately and significantly accretive to revenue and bookings growth with substantial cross-selling opportunities. Codecademy is expected to deliver approximately $47M in bookings and approximately $4M in revenue for FY2021. “Codecademy will significantly expand Skillsoft’s capabilities in the high-growth Tech & Dev segment,” said Jeffrey R. Tarr, Chief Executive Officer of Skillsoft. “Strategic acquisitions are an important part of our growth strategy. We acquired virtual instructor-led training capabilities with Global Knowledge and coaching with Pluma earlier this year. With the addition of Codecademy’s innovative capabilities, we will create an even more immersive online learning experience. When we combine Skillsoft’s enterprise customer base of more than 12,000 corporate

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Skillsoft acquires Codecademy for $525M in cash and stock deal, reaffirms FY2022 outlook