Report: Skillsoft put on the block for $2b
Report says potential buyers sought by group that took firm private in 2010
Skillsoft Ltd., a business training software firm founded in Nashua with headquarters now in Ireland, is up for sale for about $2 billion, including debt, according to a report from Reuters.
Berkshire Partners LLC, Advent International Corp. and Bain Capital LLC, which in 2010 had taken the formerly publicly traded company private for $1.2 billion, are working with Deutsche Bank AG to find potential buyers, Reuters reported, citing “several people familiar with the matter.”
A spokesperson for the company told NHBR, “It is Skillsoft’s policy to not comment on rumors or speculation regarding company operations and finances.”
The company employed 250 as of late 2012, according to the NHBR’s Book of Lists. That would be about one-sixth the number of people the company employs worldwide, according to a Nashua Telegraph article published at about the same time.
Skillsoft provides learning solutions to more than 6,000 customers, according to its website. It’s a tough business. One of its competitors, Cengage Learning, last summer filed for Chapter 11 bankruptcy protection.
SSI Investments II Ltd. – Skillsoft’s parent company — lost about $4.5 million during the third quarter of fiscal 2014 (which ended Oct. 31, 2013), bringing losses to date to about $24 million. That’s an improvement over the previous year, when it lost $18.3 million for the quarter and $65 million for the first three quarters.
Revenues were up by nearly $10 million to $105 million for the quarter and about $30 million to $307 million fiscal year to date.