Softline grows its education and training business with Academy IT acquisition
10 January 2022 - London. Softline (LSE: SFTL), the global IT and digital transformation provider, today announces the signing of the agreement to acquire Academy IT as it strengthens its position in the high-growth technology education sector around the world and in EdTech solutions.
The acquisition of an 85-percent stake in Academy IT will join the provider of corporate training and learning management solutions with Softline’s existing technology education and training business and accelerates the company’s growth strategy in emerging markets.
Academy IT creates, develops, and deploys bespoke corporate training solutions and has a strong track record particularly in cybersecurity training. Softline’s existing education business includes a learning center where more than 300,000 information technology specialists have trained over the past 18 years.
London-listed Softline is also targeting expansion in the global education technology (EdTech) market, an industry which is forecast to grow to US$404 billion by 2025*. Softline to date has already collaborated with more than 2,800 education institutions in countries including Hungary, Colombia, Argentina, Ivory Coast and Russia. It also supplies cutting-edge software to millions of students and academics around the world.
Sergey Chernovolenko, Softline’s CEO, said:
“We are excited to soon welcome Academy IT to the team. This deal will create a market leader in technology training and will help us improve our training capabilities in this booming sector and ideally positions us to pursue new international business opportunities in areas where we see significant demand.
"Our mission is to guide our customers through their digital transformations, so that they are able to keep doing business as efficiently as possible in this ever-changing world. Customers around the world can now rely on Softline to deliver a one-stop shop for their bespoke technology training requirements.”
Igor Morozov, CEO of Academy IT, said:
“We are very proud to be becoming a part of the Softline family. The merged business will offer customers an unprecedented level of variety and specificity in their choice of training solutions. With courses from leading vendors on digital professions and technological solutions for online education and training, Softline's educational ecosystem has never been better equipped to meet the needs of corporate customers.”
Academy IT is one of the leading training and consulting centers in Russia and the CIS. It is a registered education provider with the Project Management Institute (PMI), and currently works with over 10,000 clients in 10 Russian cities, with the majority of them being from the financial, oil & gas, and transport sectors.
Softline is a leading global solutions and services provider in digital transformation and cybersecurity, with its headquarters in London. The company enables, facilitates and accelerates the digital transformation of its customers’ businesses, connecting
over 150,000 organizations from all industries with over 6,000 best-in-class IT vendors, and delivering its own services and solutions.
Currently one of the fastest growing companies in the sector, Softline achieved a turnover of US$1.8 billion in the fiscal year of 2020. In October 2021, the company listed on the London and Moscow stock exchanges.
Softline's 6,000 employees work in more than 50 countries throughout Asia, Latin America, Eastern Europe and Africa – markets with significant growth potential. The company delivers a comprehensive range of IT solutions and is at the center of the digital transformation megatrend.
About Academy IT
An educational partner for corporate and government customers since 1995, Academy IT has its own network of training centers in every region of Russia.
The company builds educational ecosystems, as well as implementing and developing e-learning technology for HR. With a high level of expertise in distance learning and content development for the corporate segment, Academy IT is recognized as a leader in IT and cybersecurity training – disciplines at the crossroads of IT and business – and preparing personnel for the digital economy. Academy IT’s service spread is designed to meet the needs of any customer, and the selection of courses on offer for professional development and retraining is sure to satisfy the needs of any IT specialist.
*HolonIQ report, 2020