New Hampshire-based e-learning company Skillsoft Ltd. is reportedly being explored for sale, valuing the enterprise educational software provider at around $2 billion, including debt.
Sources told Reuters on Tuesday that Skillsoft is working with German lender Deutsche Bank AG to find potential buyers. Skillsoft was taken private in 2010 by private equity firms Berkshire Partners LLC, Advent International Corp. and Bain Capital LLC for $1.2 billion.
Berkshire Partners, Advent and Bain committed at least $510 million of equity when they acquired Skillsoft in 2010, based on a credit research note by Moody's Investors Service Inc.
Skillsoft provides electronic learning solutions to more than 6,000 customers globally, including companies and governments. It uses cloud computing, which allows clients to reduce costs by ditching bulky local servers for network-based software and storage in remote data centers, the report said.
Skillsoft reported adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of $139.2 million for the 12 months ending January 31, 2012. This is up from $111.1 million the year before, Reuters said.
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