Training Industry Magazine - November/December 2020 - 54

CLOSING
DEALS

SKILLSOFT AND GLOBAL KNOWLEDGE
CONSOLIDATE, CREATING A
MULTIMODAL TRAINING GIANT
BY TARYN OESCH DELONG, CPTM

Like many of us, eLearning and learning
management system (LMS) provider
Skillsoft has had quite a year.
In June, the company announced it
had filed for Chapter 11 bankruptcy. In
September, CIT Group Inc. announced
a $75 million revolving credit facility
for Skillsoft.
Then, in October, came the big
announcement: Skillsoft merged with
Churchill Capital Corp II - an acquisition
company - in a transaction valued at $1.3
billion, acquired information technology
(IT) training company Global Knowledge
for $233 million.
CREATING A ONE-STOP SHOP
It was an interesting move at a time
when many businesses are tightening
budgets due to the economic turmoil
caused by COVID-19. By offering inperson IT training and certification
programs, an LMS, and additional
eLearning content, the new company
- called Skillsoft - is branding itself a
one-stop digital learning shop. What's
more, the company plans on adding
additional acquisitions in the future to
"extend its leadership position as the
industry's largest and most profitable
digital learning company," according to
the press release.
This merger is the latest (though
possibly, in terms of dollars, biggest) in
a trend we've seen for a few years now:
content and tech companies partnering
or merging to combine their solutions,

| 54

creating a more efficient (and often
cheaper) buying process for customers.
And, by creating one company that
offers multiple modalities, Skillsoft is now
better able to meet the diverse learning
needs of a range of client organizations.
After all, Training Industry research has
found that the more modalities in which
an organization offers training, the more
likely learners are to respond positively to
it. Learners tend to learn more effectively
when a program meets their learning
preferences. The more modalities offered,
the more likely a program is to meet
learners' preferences.
BUILDING A GLOBAL
DIGITAL FOOTPRINT
The press release reports that Skillsoft's
"client base will now include more
than 70% of Fortune 1000 companies
and more than 45 million users across
content platforms." These customers
will now have access to Skillsoft's
LMS, Percipio, its content and Global
Knowledge's catalog of technical
courses. "With an unrivaled library of
content, best-in-class platform, multimodal capabilities, global footprint,
world-class customer base and strong
balance sheet, we are well-positioned
to drive growth, profitability and
shareholder value," said chief executive
officer Jeffrey Tarr in the press release.
Training Industry research has found
that many organizations have increased
training spend this year, in an attempt
to help their employees adapt to the

changes brought by COVID-19. In
particular, these organizations have
focused their spending on providing
remote learning to their employees.
Additionally, organizations will likely
continue to deliver remote learning due
to its efficiencies and increasing proof of
its effectiveness.
This deal positions both Skillsoft and
Global Knowledge to meet buyers at
their point of need; Global Knowledge
may be able to use Skillsoft's expertise
in digital learning to expand its virtual
offerings while Skillsoft can add
Global Knowledge's critical IT training
programs to its catalog. (Skillsoft
and Global Knowledge were both
unavailable for comment.)
No one knows what we're heading
into in 2021. We don't know when the
pandemic will end, when workforces
will be back in the office or when it
will be safe to conduct large-scale,
in-person training again. What we do
know is that training will always be
vital, that digital training will continue
to play a key role in learning strategies,
and that companies will always look
for ways to make it more efficient
and effective. Mergers like Skillsoft's
and Global Knowledge's are one way
training providers are working to meet
those needs.
Taryn Oesch DeLong, CPTM, is the
award-winning managing editor for digital
content at Training Industry, Inc., and cohost of The Business of Learning, the
Training Industry podcast. Email Taryn.


https://www.trainingindustry.com/press-release/e-learning/skillsoft-enters-into-agreement-with-lenders-to-significantly-reduce-debt-and-position-company-for-long-term-success/ https://www.trainingindustry.com/press-release/e-learning/cit-serves-as-sole-lender-on-75-million-revolving-credit-facility-for-skillsoft/ https://store.trainingindustry.com/products/research-report-what-learners-want-strategies-for-training-delivery https://store.trainingindustry.com/products/research-report-what-learners-want-strategies-for-training-delivery https://www.trainingindustry.com/press-release/e-learning/churchill-capital-corp-ii-announces-agreement-to-acquire-skillsoft-and-global-knowledge-to-create-the-leading-corporate-digital-learning-company/ https://store.trainingindustry.com/products/training-in-the-time-of-covid-how-learning-and-develpment-is-responding https://www.trainingindustry.com/training-industry-podcast/ https://www.trainingindustry.com/training-industry-podcast/

Training Industry Magazine - November/December 2020

Table of Contents for the Digital Edition of Training Industry Magazine - November/December 2020

L&D's Role in Change Management
Table of Contents
3 Critical Components to Create a High-impact Learning Culture
eLearning Takes Center Stage: How L&D Can Impact Change
Recognizing, Regrouping and Responding to Change
L&D's Role in Revolutionizing Diversity and Inclusion Initiatives
Building Resilience: L&D's Evolving Role in Business Continuity Planning
Consider the White Room: Curating Meaningful Learner Experiences
Cost-estimating Learning Initiatives and Infrastructure Requirements
Trends 2021: Planning for the Future of Learning
Prove It! Measuring Training Impact for the Fourth Industrial Revolution
Critical Leadership Skills in Times of Crisis
Beyond Service: How Defining Moments Impact Culture
LinkedIn’s Business Leadership Program: Finding, Developing and Supporting Early-Career Talent 
Managing Digital Relationships: What Brain Science Can Teach L&D About Biostyles
Beyond Pivotal: The Pivoting Role of Learning and Development
Skillsoft and Global Knowledge Consolidate, Creating a Multimodal Training Giant
Company News
Training Industry Magazine - November/December 2020 - Intro
Training Industry Magazine - November/December 2020 - 1
Training Industry Magazine - November/December 2020 - 2
Training Industry Magazine - November/December 2020 - 3
Training Industry Magazine - November/December 2020 - 4
Training Industry Magazine - November/December 2020 - L&D's Role in Change Management
Training Industry Magazine - November/December 2020 - Table of Contents
Training Industry Magazine - November/December 2020 - 7
Training Industry Magazine - November/December 2020 - 8
Training Industry Magazine - November/December 2020 - 9
Training Industry Magazine - November/December 2020 - 10
Training Industry Magazine - November/December 2020 - 3 Critical Components to Create a High-impact Learning Culture
Training Industry Magazine - November/December 2020 - 12
Training Industry Magazine - November/December 2020 - eLearning Takes Center Stage: How L&D Can Impact Change
Training Industry Magazine - November/December 2020 - 14
Training Industry Magazine - November/December 2020 - Recognizing, Regrouping and Responding to Change
Training Industry Magazine - November/December 2020 - 16
Training Industry Magazine - November/December 2020 - L&D's Role in Revolutionizing Diversity and Inclusion Initiatives
Training Industry Magazine - November/December 2020 - Building Resilience: L&D's Evolving Role in Business Continuity Planning
Training Industry Magazine - November/December 2020 - 19
Training Industry Magazine - November/December 2020 - 20
Training Industry Magazine - November/December 2020 - 21
Training Industry Magazine - November/December 2020 - Consider the White Room: Curating Meaningful Learner Experiences
Training Industry Magazine - November/December 2020 - 23
Training Industry Magazine - November/December 2020 - 24
Training Industry Magazine - November/December 2020 - 25
Training Industry Magazine - November/December 2020 - Cost-estimating Learning Initiatives and Infrastructure Requirements
Training Industry Magazine - November/December 2020 - 27
Training Industry Magazine - November/December 2020 - 28
Training Industry Magazine - November/December 2020 - 29
Training Industry Magazine - November/December 2020 - Trends 2021: Planning for the Future of Learning
Training Industry Magazine - November/December 2020 - 31
Training Industry Magazine - November/December 2020 - 32
Training Industry Magazine - November/December 2020 - 33
Training Industry Magazine - November/December 2020 - 34
Training Industry Magazine - November/December 2020 - 35
Training Industry Magazine - November/December 2020 - Prove It! Measuring Training Impact for the Fourth Industrial Revolution
Training Industry Magazine - November/December 2020 - 37
Training Industry Magazine - November/December 2020 - 38
Training Industry Magazine - November/December 2020 - 39
Training Industry Magazine - November/December 2020 - Critical Leadership Skills in Times of Crisis
Training Industry Magazine - November/December 2020 - 41
Training Industry Magazine - November/December 2020 - 42
Training Industry Magazine - November/December 2020 - 43
Training Industry Magazine - November/December 2020 - Beyond Service: How Defining Moments Impact Culture
Training Industry Magazine - November/December 2020 - 45
Training Industry Magazine - November/December 2020 - 46
Training Industry Magazine - November/December 2020 - 47
Training Industry Magazine - November/December 2020 - LinkedIn’s Business Leadership Program: Finding, Developing and Supporting Early-Career Talent 
Training Industry Magazine - November/December 2020 - 49
Training Industry Magazine - November/December 2020 - 50
Training Industry Magazine - November/December 2020 - Managing Digital Relationships: What Brain Science Can Teach L&D About Biostyles
Training Industry Magazine - November/December 2020 - 52
Training Industry Magazine - November/December 2020 - Beyond Pivotal: The Pivoting Role of Learning and Development
Training Industry Magazine - November/December 2020 - Skillsoft and Global Knowledge Consolidate, Creating a Multimodal Training Giant
Training Industry Magazine - November/December 2020 - Company News
Training Industry Magazine - November/December 2020 - 56
Training Industry Magazine - November/December 2020 - 57
Training Industry Magazine - November/December 2020 - 58
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_summer2022
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_spring2022
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_winter2022
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20210910
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20210708
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20210506
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20210304
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20210102
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20201112
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20200910
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20200708
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20200506
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20200304
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20200102
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20191112
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20190910
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20190708
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20190506
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20190304
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20190102
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20181112
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20180910
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20180708
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20180506
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20180304
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20180102
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20171112
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20170910
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20170708
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20170506
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20170304
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20171112_se
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_20161112
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2016fall
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2016summer
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2016sales
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2016spring
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2016winter
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2015outsourcing
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2015fall
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2015summer
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2015leadership
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2015spring
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2015winter
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2014fall
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2014summer
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2014spring
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2014winter
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2013fall
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2013summer
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2013spring
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2013winter
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2012fall
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2012summer
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2012spring
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2012winter
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2011fall
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2011summer
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2011spring
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2011winter
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2010fall
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2010summer
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2010spring
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2010winter
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2009fall
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2009summer
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2009spring
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2009winter
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2008fall
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2008summer
https://www.nxtbook.com/nxtbooks/trainingindustry/tiq_2008spring
https://www.nxtbookmedia.com