Enterprise application software provider SAP has recently announced that it has reached an agreement to sell its corporate training solutions platform SAP Litmos to Francisco Partners, a global private equity firm that specializes in partnering with technology and technology-enabled businesses.
While the company did not disclose the financial terms of the deal, it said that the transition of Litmos to an independent company will be complete in December 2022.
Headquartered in San Ramon, California, SAP Litmos enables companies to deliver training anytime, anywhere with its easy-to-use learning management system, pre-built courses, and eLearning solutions. Thousands of companies use Litmos’ solutions to centralize and provide transformative training to their employees, customers, and partners.
Litmos was acquired by CallidusCloud, an enterprise software company, in 2011, then by SAP in 2018. Since its launch in 2007, the company claims, its solutions have been used by more than 30 million people in 150 countries, across 35 languages.
Talking about the new transition, SAP wrote in a blog post,
“Francisco Partners offers the best combination of capital investment for growth, strategic and operational advisors, alignment with our strategic direction, and was the best cultural fit for our employees, customers, and partners. This transition will provide the investment, focus, and growth to deliver even more value for our customers.”
Jason Brein and Christine Wang, partners at Francisco Partners, said in a statement,
“We are tremendously excited to partner with Litmos to further unlock its growth potential and deliver even more to its customers and partners. As an independent company partnering with FP, Litmos will have more flexibility to focus all of its investments and operations on customer success and increase its customer happiness by augmenting platform capabilities, proprietary content library and third-party integrations.”
Francisco Partners has invested in over 400 technology companies since its launch over 20 years ago, making it one of the most active and longstanding investors in the technology industry. The global investment firm has extensive experience in the education and human capital technology space and its investments have focused on companies that provide the best possible products for its customers, partners, and managers. Francisco Partners has raised approximately $45 billion in capital to date.