CARY – In a move to establish a global digital learning company, Churchill Capital Corp II (NYSE: CCX.U) and Software Luxembourg Holding S.A., will acquire Global Knowledge, the Cary-based provider of IT and professional skills development whose official business name is Albert DE Holdings Inc.
Churchill Capital Group is a special purpose acquisition company, or SPAC.
The resulting company will operate as Skillsoft Corporation and will be listed on the New York Stock Exchange (NYSE) under the ticker symbol SKIL, beginningtoday.
The combined companies plan to provide digital learning services. The companies, prior to the acquisition, list as clients about 700 of the Fortune 1000 companies, and deliver learning-based content to more than 45 million users.
“We are extremely excited to be merging with Skillsoft and look forward to a great future for the new company and our united team,” said Peter Salzer, executive chairman of Global Knowledge, in a statement issued by the companies.
The move is anticipated to drive growth for the company at a time when digital learning is becoming more widespread, due to the global coronavirus pandemic, and according to the chairman and CEO of Churchill II, Michael S. Klein, will create exceptional shareholder value.
The company’s mission, going forward, will be focused on providing what it calls “essential career development skills” to individuals and to company employees, at a time of changing demand and adaptation to digital learning, said Klein.
Global Knowledge reorganized its workforce in 2019, according to prior reporting from WRAL TechWire, and was purchased in 2011 by MidOcean Partners. The company hired a new CEO in late 2015.
