Learning Technologies Group to acquire Blackboard's Open LMS for $31.7 million
Agreement to acquire Blackboard's Open LMS business reinforces Learning Technologies Group's position as a strategic partner for an extensive range of clients
LONDON, March 27, 2020 /PRNewswire-PRWeb/ -- Learning Technologies Group plc (LTG), a global leader in the high-growth workplace learning and talent industry, has entered into an agreement to acquire all intellectual property and assets relating to Blackboard's Open LMS platform for $31.7 million (less some customary purchase price adjustments). Following completion of the transaction in approximately four weeks, Open LMS will be invested in as a standalone brand within LTG's portfolio of best-in-class businesses.
The addition of Open LMS offers significant synergies across the Group's portfolio of businesses, enhancing LTG's current offering of learning platforms and meeting the needs of existing clients seeking open-source solutions. LTG will commit dedicated resources to Open LMS as a unique operation, encouraging organic and synergistic growth. Under a partnership agreement, LTG is to resell Blackboard products integrating with Open LMS.
The largest commercial Moodle¹ provider in the world, Open LMS is deployed globally across dozens of countries and is supported by a global team of eLearning and technology experts. Led by learning technology leader and Moodle expert, Phill Miller, Open LMS will form the foundation for a consolidation strategy, supporting further value-add within LTG and the Moodle community.
The acquisition of Open LMS is a significant step towards LTG's ambition to achieve a strong foothold in the Moodle market. LTG's proven ability to support the continuing growth of acquired businesses will be enhanced by opportunities to cross-sell other LTG brands.
LTG Chief Executive, Jonathan Satchell, commented, "I am delighted to welcome Open LMS into the Group. We are excited, not only by the introduction of the Open LMS product into our portfolio, but by the addition of the talented workforce transferring into the Group under Phill's leadership. I am keen to see how we can further develop the capability afforded by this acquisition in the coming weeks and months."
LTG Chief Innovation and Product Officer, Tim Martin, to whom Open LMS will report, added, "We believe organisations' learning platform needs vary wildly, and we intend to serve organisations in all geographies and with all manner of requirements. From high-consequence situations, where PeopleFluent is a great fit, to educational and governmental agencies, where Open LMS serves, we believe we have the coverage to meet our clients' needs, rather than to have them accommodate our offerings. We're particularly excited about our ability to serve the mid-market with a complete SaaS offering via Open LMS."
With financial and leadership investment from LTG, Open LMS is expected to drive innovation around the Moodle platform, creating unique functionality for its clients by evolving Moodle and integrating with other market-leading LTG products. Clients will be supported in creating a holistic solution for instruction and learning needs. LTG remains committed to student data privacy as it does with its other learning-related products and services.
Open LMS Managing Director, Phill Miller, who will remain with the business under LTG ownership, commented, "We're continuing to see the distinction between education and corporate training disappear, and the global Moodle community is a reflection of that trend. With its 'buy and grow' strategy of investment, LTG is the perfect partner to help us grow by continuously creating a better experience for clients. LTG's global scale and success in supporting its participating businesses will fit well with our local and regional presence and expertise. I'm excited to connect with many of our clients over the next several weeks and months to share our plans and get feedback on the next set of innovations we plan to build."
About Learning Technologies Group
Learning Technologies Group is a leader in the high-growth workplace e-learning and talent management industries. The Group offers end-to-end learning and talent management solutions ranging from strategic consultancy, through a range of content and platform solutions to analytical insights that enable corporate and government clients to close the gap between current and future workforce capability.
LTG is listed on the London Stock Exchange Alternative Investment Market (LTG.L) and headquartered in London. The Group has offices in Europe, the United States, Asia-Pacific and South America.
For more, visit ltgplc.com.
¹ Moodle is a learning platform designed to provide educators, administrators and learners with a single robust, secure and integrated system to create personalized learning environments.
SOURCE Learning Technologies Group
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