Skillsoft Corp. - Ordinary Shares - Class A

-0.18 (-2.42%)
Debt Financing / Related, Other Pre-Announcement

Skillsoft To Acquire Codecademy

Published: 12/22/2021 13:20 GMT
Skillsoft Corp. - Ordinary Shares - Class A (SKIL) - Skillsoft to Acquire Codecademy, a Leading Platform for Learning High-demand Technical Skills, Creating a Worldwide Community of More Than 85 Million Learners.
Codecademy Shareholders Will Receive Total Consideration of Approximately $525 Million.
Consideration for Transaction is Approximately 40% Cash and 60% Equity.
Skillsoft Has Secured Committed Financing From Barclays and Citigroup.
Deal Expected to Be Significantly Accretive to Bookings and Revenue Growth Immediately Upon Closing.
Skillsoft Reiterates Its Full Year Fiscal 2022 Outlook Provided on December 14, 2021.
After Close, Codecademy Team Will Join Skillsoft.
Codecademy Expected to Deliver About $47 Million in Bookings and About $42 Million in Revenue for Cy December 31, 2021.
FY2022 Revenue View $706.2 Million -- Refinitiv Ibes Data (analyst estimates).