Sanoma Corporation, Investor News, 5 December 2019 at 14:05 EET
Sanoma acquires itslearning, an international learning platform provider
Sanoma acquires itslearning, an international provider of award-winning cloud-based learning platforms founded in 1999 in Norway, from the investment organisation EQT. Itslearning’s management will continue as minority shareholders in the company. In 2018, itslearning’s net sales were approx. EUR 30 million. It has operations in nine countries and about 200 employees, nearly one third of them working in educational technology. Itslearning’s platforms are used by more than 6 million users from primary through to higher and corporate education.
“Itslearning is an excellent addition to our digital learning platform business, which we have recently strengthened by the acquisition of Iddink. After these acquisitions, Sanoma Learning will serve about 15 million students across Europe and employ a large pool of top European ed-tech talents. The acquisition expands our footprint in digital learning into Norway, France and Germany, and extends our position in several core markets. We will enhance itslearning’s business as a stand-alone company and work with the team to evaluate its strategy for some markets, including the USA,” says Susan Duinhoven, President and CEO of Sanoma.
“We’re looking forward to joining Sanoma, a company with a successful track record in supporting learning and teaching. Together we will be well-positioned to provide our customers, employees and partners with more opportunities and better solutions in the future,” says Arne Bergby, CEO of itslearning.
Itslearning will be reported as part of Sanoma Learning SBU.
Kaisa Uurasmaa, Head of Investor Relations and CSR, tel. +358 40 560 5601
Sanoma is a front running learning and media company impacting the lives of millions every day. We enable teachers to excel at developing the talents of every child, provide consumers with engaging content, and offer unique marketing solutions to business partners.
With operations in Finland, the Netherlands, Poland, Belgium, Sweden and Spain, our net sales totalled EUR 1.3 billion and we employed more than 4,400 professionals in 2018. Sanoma shares are listed on Nasdaq Helsinki. More information is available at www.sanoma.com