- SAP America ( NYSE: SAP ) has entered into a definitive agreement with Francisco Partners to sell its Litmos business to the global investment firm.
- Financial terms of the deal were not disclosed.
- Litmos will operate as an independent company under Francisco Partners. Its current leadership team will continue in similar roles under the new stand-alone company.
- SAP Litmos develops e-learning solutions for businesses. It offers a learning management system, SAP Litmos Training, and a comprehensive course library, SAP Litmos Training Content.
- Commenting on the deal, Meg Bear, President and Chief Product Officer, SAP SuccessFactors said: "As a result of SAP’s ongoing company-wide portfolio review, we determined that the value propositions and functionalities of the SAP SuccessFactors Learning solution and SAP Litmos solutions overlap. We are confident that the best opportunity for Litmos to provide growth and innovation for its customers, employees and business is to operate as a stand-alone company. Francisco Partners will be able to provide Litmos the necessary investment, focus and experience to continue to realize its ongoing growth."
For further details see:
SAP America to sell Litmos e-learning business