Skillsoft completes acquisition of Codecademy
Skillsoft has completed the acquisition of Codecademy, an online learning platform for technical skills.
The addition of Codecademy’s learning platform brings scalable, interactive courses and hands-on learning to Skillsoft’s existing offering and addresses deep user needs for modern technical skills in 14 coding languages, as well as cloud, cybersecurity, and data science.
The acquisition also creates substantial cross-selling opportunities and is expected to be immediately accretive to Skillsoft’s bookings and revenue growth and gross margins. Skillsoft expects to begin offering enterprise customers an integrated solution in the coming weeks.
Describing the acquisition as a “significant step” in advancing Skillsoft’s growth strategy with the addition of one of the foremost learning platforms for technology and developer skills, Jeffrey Tarr, CEO of Skillsoft, said, “Our two strong teams together position us to fuel continuous growth for employees and their companies through learning experiences that are deeply absorbing and deliver exponential returns on time and effort while helping organisations address critical technical skills gaps.”
As part of the acquisition, Zach Sims, Codecademy’s founder and CEO, will also join Skillsoft’s executive leadership team. “We are excited to bring interactive technical learning to thousands of companies and their employees worldwide, as well as expand our product and content offerings to better serve Codecademy learners throughout their careers in technology,” Sim said.
“By joining forces with Skillsoft, we are in an even stronger position to advance our collective mission and empower today’s workforce – including both individuals and organisations – with the skills for tomorrow.”