SAP Litmos develops eLearning solutions for major companies and the solutions are said to be used by over 30 million people in 150 nations, across 35 languages
Francisco Partners signs agreement with SAP America to acquire SAP Litmos (Credit: Marc Thele from Pixabay)
US-based investment firm Francisco Partners has inked a definitive agreement with SAP America, a wholly owned subsidiary of SAP, to acquire SAP Litmos for an undisclosed sum.
Founded in 2007, SAP Litmos claims to develop and deliver the most user-friendly learning management system and eLearning solutions.
The company develops eLearning solutions for major companies. The solutions are said to be used by over 30 million people in 150 nations, across 35 languages.
Litmos was acquired by CallidusCloud in 2011, then by SAP in 2018.
SAP SuccessFactors president and chief product officer Meg Bear said: “SAP is committed to enabling every organisation to become intelligent, networked and sustainable by bringing together data, technology and best practices.
“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.”
According to Francisco Partners, the existing Litmos leadership team will continue in similar roles in the new stand-alone company.
Francisco Partners, with its experience in the education and human capital technology markets, expects the transaction to further unlock Litmos’ growth potential and provide even more to its customers and partners.
Francisco partners Jason Brein and Christine Wang said: “As an independent company partnering with FP, Litmos will have more flexibility to focus all of its investments and operations on customer success and increase its customer happiness by augmenting platform capabilities, proprietary content library and third-party integrations.”
The closing of the deal, subject to customary regulatory clearances, is expected to be closed in the fourth quarter of 2022.