Latest Deal Advances Global Leadership Position for Absorb in Fast-Growing LMS Market
CALGARY, Alberta, Dec. 20, 2019 /PRNewswire/ -- Absorb Software, provider of the Absorb Learning Management System (LMS) and the newly introduced Absorb Infuse, today announced the acquisition of ePath Learning, a leading cloud-based learning technology company in Connecticut. This marks the third acquisition of the year for Absorb, as the company continues its aggressive growth strategy into 2020.
"Our mission has been clear since the beginning – to establish Absorb as the global leader in LMS and deliver significant value to our customers. Acquiring ePath Learning provides a tremendous opportunity to accelerate this vision, and represents yet another exciting opportunity to expand our footprint in the fast-growing LMS industry," said Absorb CEO Mike Owens.
"This is a great strategic fit for ePath Learning. After two decades of success, the Absorb deal enables us to continue delivering on our promise to provide world-class learning management technology to customers," said Dudley Molina, President and CEO of ePath Learning.
The ePath Learning acquisition follows the August 2019 purchase of eLogic Learning. Absorb also purchased Utah-based SaaS LMS provider Torch LMS last May. The company now serves more than 1,100 active customers with 255 employees across eight international offices.
Business momentum has been validated by a series of recent industry accolades and award wins. Absorb was listed on Training Industry's 2019 Top 20 Learning Portal/LMS Companies. In addition, the company received the highest overall rating in Gartner Peer Insights' "Voice of the Customer": Corporate Learning Report this fall. Most recently, Absorb won a highly-coveted Brandon Hall Group Silver Award for Best Advance in Learning Management Technology, and was recognized with a prestigious Editors' Choice Award by PCMag.
Absorb is a portfolio company of Silversmith Capital Partners. Choate Hall & Stewart served as legal counsel to Absorb Software.
About Absorb Software Absorb Software is a learning technology company based in Calgary, Alberta Canada, with global offices in London, Dublin, Shanghai, Sydney, Boston, Tampa and Salt Lake City. Absorb offers both Absorb Infuse, the first Learning Experience Platform (LXP) to offer a true in-the-flow learning experience, and its flagship product, Absorb LMS, an industry-leading and award-winning Learning Management System for businesses, higher education, government and non-profit agencies around the world. Learn more at www.absorblms.com, or follow the company on LinkedIn, Facebook, or Twitter.
About Silversmith Capital Partners Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $1.1 billion of capital under management. Silversmith's mission is to partner with and support the best entrepreneurs in growing profitable technology and healthcare companies. The firm seeks to invest $15 million to $75 million per company. Representative investments include ActiveCampaign, Centauri Health Solutions, Digital Map Products, Impact, LifeStance Health, MediQuant, Nordic Consulting Partners, and Validity. The partners have over six decades of collective investing experience and have served on the boards of numerous successful growth companies including Ability Network, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Net Health, Passport Health, SurveyMonkey, Wrike, and Yapstone. For more information, visit www.silversmithcapital.com.