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An E-Learning Lesson: If At First You Don't Succeed


Two months after its planned acquisition of collaboration software maker Centra Software fell apart, SmartForce says it plans to buy SkillSoft.

By Tischelle George
InformationWeek
June 11, 2002 12:00 AM

SmartForce plc is determined to grow. Two months after one proposed acquisition fell apart, the E-learning content provider says it will acquire SkillSoft Corp., another E-learning content vendor. SkillSoft has about 300 unique customers and courseware that focuses on interpersonal and management skills. This will boost SmartForce's existing customer base of 2,500 and content that focuses on technical skills development. "Interpersonal skills is an area we only started to move into," says Paul Henry, SmartForce's executive VP of marketing and customer service. "Now we don't need to spend money developing in those areas."

Both companies will have to develop a way to integrate the styles of their courseware, which are quite different, Meta Group analyst Jennifer Vollmer says. "My clients have concerns with the formatting of SkillSoft content," Vollmer says. SkillSoft courses are two hours long, while SmartForce's E3 courseware runs about an hour, she says. Vollmer questions how both companies will make all formats of their products match so there's continuity in the product set. Henry says these are the questions both companies hope to attack and answer during the regulatory clearing period.


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If approved by regulators, the two would combine operations in September. The company may adopt a new name if the task of researching names, Web domains, and legal rights doesn't become too laborious, Henry says. SmartForce will exchange 2.3674 of its shares for each SkillSoft share and own about 58% of the combined company. Henry says some employees may be laid off, but couldn't provide specifics. SmartForce also expects to cut back on trade show and advertising expenses once it unites with SkillSoft.

The proposed deal comes on the heels of a failed effort by SmartForce to buy collaboration software maker Centra Software Inc. two months ago.


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