itslearning and Sanoma Group today announced that they have entered into an agreement in which Sanoma Group will acquire the majority share in itslearning. Sanoma Group is a leading European learning and media company headquartered in Helsinki, Finland.
itslearning will operate as a stand-alone company within the Sanoma Group which reported net sales of EUR 1.3 billion in 2018. Key personnel from itslearning will remain as minority shareholders in the company following this acquisition.
Sanoma has operations in six European countries and more than 4,000 employees. The group has had a long and successful history in the education industry through Sanoma Learning, a strategic business unit (SBU) which provides multi-channel learning solutions for the education market. itslearning will be reported as part of Sanoma Learning SBU.
“We are thrilled to be joining Sanoma, a company with a successful track record in supporting learning and teaching. We share a vision in helping students achieve their potential through the use of technology and in shaping the future of education. Together we will be well-positioned to provide our customers, employees and partners with more opportunities and better solutions in the future.”
“itslearning is an excellent addition to our digital learning platform business. The acquisition expands our footprint in digital learning into several European countries and extends our position in several core markets. We will enhance their business as a stand-alone company and work together to evaluate the strategy going forward,” says Susan Duinhoven, President and CEO of Sanoma.
Together itslearning and Sanoma will serve 15 million students in Europe alone.
We make a learning platform that’s designed for teachers. Since 1999, we’ve built technology that elevates teaching and helps students realize their potential. We work closely with educators to understand their needs and we take pride in being their partner. We feel that passion, competence, and reliability are the keys to success. Based in Bergen, Norway and Boston, MA, we serve millions of people around the world.
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 totaled 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
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