Litmos to Become Independent Company under Francisco Partners
SAN FRANCISCO–(BUSINESS WIRE)–SAP SE (NYSE: SAP) and Francisco Partners (FP) today announced that FP has signed a definitive agreement with SAP America Inc. under which Francisco Partners will acquire SAP Litmos (Litmos) from SAP. Litmos is an established leader in the learning management system market. FP is a leading global investment firm that specializes in partnering with technology businesses. SAP America Inc. is a wholly owned subsidiary of SAP SE.
The transaction is expected to close in the fourth quarter of 2022 and is subject to customary regulatory clearances. Financial terms of the transaction were not disclosed.
“SAP is committed to enabling every organization to become intelligent, networked and sustainable by bringing together data, technology and best practices,” said Meg Bear, President and Chief Product Officer, SAP SuccessFactors. “As a result of SAP’s ongoing company-wide portfolio review, we determined that the value propositions and functionalities of the SAP SuccessFactors Learning solution and SAP Litmos solutions overlap. We are confident that the best opportunity for Litmos to provide growth and innovation for its customers, employees and business is to operate as a stand-alone company. Francisco Partners will be able to provide Litmos the necessary investment, focus and experience to continue to realize its ongoing growth.”
Since its launch over 20 years ago, Francisco Partners has invested in over 400 technology companies, making it one of the most active and long-standing investors in the technology industry. Francisco Partners has experience in the education and human capital technology market and its investments have focused on companies that provide the best possible products for its customers, partners and managers. Francisco Partners also has extensive experience partnering with corporations to execute divisional carve-outs with transactions such as IBM’s Watson Health business (now Merative) and Discovery Inc.’s Discovery Education business.
“We are tremendously excited to partner with Litmos to further unlock its growth potential and deliver even more to its customers and partners,” said Jason Brein and Christine Wang, Partners at Francisco 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.”
The current Litmos leadership team will continue in similar roles in the new stand-alone company, serving existing customers, such as corporations, OEMs and technology partners.
About SAP Litmos
SAP Litmos develops eLearning solutions for top-performing companies. An established leader in the market since 2007, SAP Litmos offers the world’s easiest-to-use LMS – SAP Litmos Training – and a comprehensive course library – SAP Litmos Training Content. Thousands of companies trust the solutions to centralize and deliver transformative training to employees, customers, and partners.
Acquired by CallidusCloud in 2011, then by SAP in 2018, and now Francisco Partners in 2022. SAP Litmos continues to innovate award-winning learning technology and set the standard for customer experience and satisfaction. The solutions are used by more than 30 million people in 150 countries, across 35 languages. For more information, visit: https://www.litmos.com/.
About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in over 400 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.Franciscopartners.com.
SAP’s strategy is to help every business run as an intelligent enterprise. As a market leader in enterprise application software, we help companies of all sizes and in all industries run at their best: SAP customers generate 87% of total global commerce. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers’ businesses into intelligent enterprises. SAP helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want – without disruption. Our end-to-end suite of applications and services enables business and public customers across 25 industries globally to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people’s lives. For more information, visit www.sap.com.
# # #
This document contains forward-looking statements, which are predictions, projections, or other statements about future events. These statements are based on current expectations, forecasts, and assumptions that are subject to risks and uncertainties that could cause actual results and outcomes to materially differ. Additional information regarding these risks and uncertainties may be found in our filings with the Securities and Exchange Commission, including but not limited to the risk factors section of SAP’s 2021 Annual Report on Form 20-F.
© 2022 SAP SE. All rights reserved.
SAP and other SAP products and services mentioned herein as well as their respective logos are trademarks or registered trademarks of SAP SE in Germany and other countries. Please see https://www.sap.com/copyright for additional trademark information and notices.
Daniel Reinhardt, +49 (6227) 7-40201, firstname.lastname@example.org, CEST
Hilmar Schepp, +49 (6227) 7-46799, email@example.com, CEST
Whit Clay, +1 212-486-9500, firstname.lastname@example.org
Sarah Braunstein, +1 212-486-9500, email@example.com