E-learning Companies SmartForce, SkillSoft Combine
Infoworld,
Jun 11, 2002
The big e-learning news making the rounds today is the proposed merger between Smartforce and Skillsoft. OLDaily readers, of course, have been expecting such a merger. Though the announcement says Skillsoft will become a Smartforce subsidiary, the optics say otherwise: Smartforce is trading 2.3 of its shares for each Skillsoft share, the Skillsoft CEO becomes the merged company's CEO, and Skillsoft gets the deciding vote on the board. The new company is projecting losses even before merger expenses. Expect layoffs and more changes before this is through.
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