Absorb Software acquires eLogic Learning

Calgary, AB, August 7, 2019 /PRNewswire/ — Absorb Software, provider of the Absorb Learning Management System (LMS) and all-new Absorb Infuse, today announced the acquisition of eLogic Learning, an award-winning LMS based in Tampa, Florida.

The acquisition of eLogic Learning closely follows the May 2019 Absorb the acquisition of Torch LMS, a UtahSaaS LMS provider. Absorb now serves more than 1,000 active clients with 225 employees in eight offices.

“Our acquisition of eLogic Learning gives Absorb another big step forward in our growth ambitions and positions us to use eLogic’s expanding global customer base to strengthen Absorb’s leadership in the international LMS market. as well as to enhance our company‘s ability to serve customers across multiple industries,” said mike owens, founder and CEO of Absorb. “In addition to accelerating growth and customer acquisition, eLogic will also broaden access to world-class talent and deepen our vertical industry expertise in areas such as retail, healthcare and casual fast food.”

eLogic Learning has succeeded in delivering fast and reliable course performance on an international scale. The company supports more than 5 million monthly users worldwide. In addition to its LMS, the eLogic learning platform also develops custom e-learning content and provides an extensive library of third-party courseware.

“This acquisition comes just as the enterprise learning market is exploding, and as both companies emerge at the forefront of the ongoing transformation,” said Mark Anderson, CEO of eLogic Learning. “Both Absorb and eLogic have expertise in creating innovative, mobile-centric learning experiences, and together our combined skills will deliver a cutting-edge platform that is flexible, engaging and meets the needs of modern workers. in a variety of industries around the world.”

Building on the success of the acquisitions of eLogic and Torch LMS, Absorb plans further acquisitions in the coming quarters as the company expands beyond organic growth. Absorb is a portfolio company of Silversmith Capital Partners.

Financial terms of the acquisition were not disclosed. Lightning Partners acted as exclusive financial and strategic advisor to eLogic Learning in connection with the transaction. Choate Hall & Stewart served as legal counsel to Absorb Software.

About Absorb Software

Absorb Software is a learning technology company based in Calgary, AlbertaCanadawith global offices in London, Dublin, Shanghai, sydney, Boston, Tampa and Salt Lake City. Absorb offers both Absorb Infuse, the first learning experience platform (LXP) to deliver a true in-flow learning experience, and its flagship product, Absorb LMS, a leading learning management system and award-winning for businesses, higher education, government agencies and non-profits around the world. To learn more, visit www.absorblms.com or follow the company on LinkedIn, Facebook or Twitter.

About eLogic Learning

Founded in 2001, eLogic Learning is a leading provider of learning management systems, custom content development, and learning strategy solutions. Our cloud-based learning management technology, content capabilities, and accompanying subject matter expertise provide each partner with a personalized approach to success. www.elogiclearning.com

About Silversmith Capital Partners

Founded in 2015, Silversmith Capital Partners is a Bostongrowth capital company with $1.1 billion capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing profitable technology and healthcare businesses. The company seeks to invest $15 million at $75 million per company. Representative investments include ActiveCampaign, Centauri Health Solutions, Digital Map Products, Impact, LifeStance Health, MediQuant, Nordic Consulting Partners and Validity. Partners have over six decades of collective investment experience and have served on the boards of numerous successful growth companies including Ability Network, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Net Health, Passport Health, SurveyMonkey and Yapstone. For more information, visit www.silversmithcapital.com.

About Lightning Partners

Lightning Partners provides high-impact advice to growth technology companies on mergers and acquisitions, growth equity, and strategy that result in best-in-class results. The Lightning Partners team has completed over 150 transactions valued at over $20 billion in a variety of software, data and technology industries. The company delivers world-class results by applying a combination of deep industry knowledge, process excellence, transaction experience, operating experience and a wide range of relationships with buyers and investment funds built over the past 20 years. www.lightningpartners.com/

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[email protected]

SOURCE Absorption Software

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