By Dean Seal
Skillsoft has agreed to sell its Global Knowledge instructor-led training business for about $18 million to an affiliate of Enduring Ventures.
The education-software company said the sale lets it streamline operations and focus on scaling its artificial intelligence-native skills management platform by investing in content, technology and AI-driven learning solutions.
"Following a comprehensive strategic review, we determined that this transaction is the right step to further sharpen our focus and accelerate Skillsoft's transformation," Chief Executive Ron Hovsepian said.
The deal should immediately boost Skillsoft's growth rates, earnings and cash flow, Hovsepian said.
Enduring Ventures managing partner Sieva Kozinsky called Global Knowledge the "gold standard in technology and IT training" that helps organizations upskill their technical workforce.
"The pace of AI-driven change means that continuous, expert-led training isn't a nice-to-have, it's a competitive necessity," Kozinsky said.
Skillsoft will initially receive $10 million for Global Knowledge, though that amount could be adjusted based on the unit's debt levels and estimated working capital just before the deal closes. The consideration will consist of a combination of Global Knowledge's cash, a seller note issued by Global Knowledge to Skillsoft and third-party financing obtained by Enduring Ventures.
The deal is expected to close in Skillsoft's fiscal second quarter, which ends in late July.
Nine months after the transaction closes, Skilsoft will be entitled to another $10 million, minus about $2 million related to long-term employee liabilities. That second tranche of proceeds will be paid in five equal quarterly installments.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 20, 2026 16:46 ET (20:46 GMT)
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