Instructure to Leave Corporate LMS Market with Sale of Bridge
- By Dian Schaffhauser
- 02/23/21
Instructure is selling the corporate side of its learning management system business for $50 million. The buyer will be Learning Technologies Group plc (LTG), a UK company with multiple businesses that produce services and technologies for digital learning and talent management.
The Bridge software-as-a-service platform provides functionality for managing learning, performance and skills development. While the division generated $21 million for Instructure in the last fiscal year, it saw a loss of $1.3 million during the same period.
According to the companies, the acquisition will expand LTG's offerings in the "mid-enterprise" market, alongside PeopleFluent, which serves large enterprises, and Breezy HR, which serves small and medium-sized businesses.
LTG noted that the integration of Bridge with its other portfolio offerings, including the recently acquired Reflektive engagement and analytics platform, would "create opportunities for cross-sell and upsell-led growth within the group." LTG said Bridge would add a further 800 customers to its multiple businesses.
"Bridge adds real strength and depth to our learning and talent offering for the mid-enterprise market, which has attractive structural dynamics," said Jonathan Satchell, chief executive of LTG, in a press release. "The acquisition extends LTG's current market coverage, enabling us to meet the needs of customers of all sizes and complexities."
The deal is expected to be finalized by Feb. 26, 2021.
About the Author
Dian Schaffhauser is a former senior contributing editor for 1105 Media's education publications THE Journal, Campus Technology and Spaces4Learning.