February 21, 2020

SumTotal announces acquistion by Skillsoft

A Gainesville-based human resources company is being acquired by a global corporate training provider.

SumTotal recently announced it is in the process of merging with Skillsoft, an Ireland-based content provider that offers online classes and learning materials for employees and businesses.

Jackie Funk, SumTotal’s senior vice president of marketing, said the two companies have been partnering for the past several years, and now the acquisition solidifies that partnership. She said it makes sense for the companies to combine because of what each has to offer.

“If you want the course and the content, that’s where Skillsoft comes in,” she said. “If you want the platform and application to deliver that content, that’s where SumTotal comes in…The purpose of why they brought us into their family is mainly the applications we bring to the market. It gives us products and services that complement each other.”

SumTotal, headquartered in Gainesville since 2006, has 17 offices across the globe. It currently supports about half of the Fortune 500 companies.It employs 250 people locally and plans to add 30 local jobs in the near future. As it expands and finalizes the acquisition, Funk emphasized that SumTotal will remain in Gainesville.

She said the management team that got SumTotal off the ground in Gainesville came from Silicone Valley, which they were seeking to escape.

“The problem with Silicone Valley is that it’s expensive,” she said. “It’s very challenging to keep people because they’re often job-hopping to the next great opportunity.”

She said they were looking for a refreshing change and found that in Gainesville.

“It’s definitely a place we’re happy we set up our headquarters,” Funk said, “and it’s definitely a place we’re going to stay.”

Specific details about the transaction are not available yet, as the closing has not been finalized.

“I am very excited about the opportunity to provide more value to our customers, who now will benefit from a comprehensive, content-rich HR solution,” said SumTotal CEO Hardeep Gulati in a statement.

Related posts