SkillSoft Announces New Agreements Totaling Approximately $9 Million
NASHUA, N.H.–Nov. 14, 2001–SkillSoft Corporation (Nasdaq: SKIL) today announced that it has signed multi-year agreements with three major financial institutions and two consulting firms in the United States. Under the agreements, thousands of financial services, consultants, and staff employees will have access to business and professional skills courses from SkillSoft’s extensive program library.
Three of the five companies chose to access courses through SkillPort(TM), SkillSoft’s web-based, e-learning management platform for setting up prescribed curricula, course administration, and tracking individual learner progress. Two companies also licensed SkillSoft’s new SkillSimulations, comprehensive web-based simulation products designed to reinforce skills acquired through SkillSoft courses.
“As evidenced by these new agreements, we are seeing strong demand for our products as organizations implement e-learning on an enterprise-wide basis,” commented Chuck Moran, president and CEO of SkillSoft. “Companies are rapidly recognizing the value of e-learning for business skills training, while offering significant cost savings over other training methods. Even in economic slowdowns, many leading companies see cost-effective, highly efficient training as a key factor in overall profitability and competitive advantage.”
Factors influencing the selection processes at each institution included the breadth and depth of business training offered through SkillSoft’s 1,000-plus course catalog; the overall quality of instructional design; and SkillSoft’s commitment to localizing courses for non-U.S. markets, giving corporations the ability to offer truly global access to business skills training.
With more than two million user seats, SkillSoft is a leading provider of e-learning solutions for Global 2000 companies. Customers receive comprehensive learning and performance support solutions for their workforce through the SkillSoft library, comprised of more than 1,000 courses for global business markets, of which approximately 550 are in U.S. English. The SkillSoft library, which also includes more than 12,000 learning objects and 2,500 job aids, encompasses a wide array of business skills, such as management, leadership, communication, project management and customer service, as well as business subjects such as e-commerce, finance, marketing, sales, and strategy. SkillSoft complements its course library with SkillPort, an e-learning management platform that offers rapid implementation at a cost-efficient price point. SkillSoft recently introduced SkillSimulations, Web-based simulations designed to reinforce skills newly acquired through SkillSoft courses. For more information, visit www.skillsoft.com .
SkillSoft, SkillPort, RolePlay, Search-and-Learn, and SkillSimulations are trademarks of SkillSoft Corporation. All brand names, trademarks, or registered trademarks are the property of their respective holders.
Safe harbor language: This release includes information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results encompassed within the forward-looking statements. Factors that could cause or contribute to such differences include competitive pressures, changes in customer demands or industry standards, adverse economic conditions, loss of key personnel, litigation and other matters disclosed under the heading “Future Operating Results” in the Company’s most recent Report on Form 10-Q filed with the Securities and Exchange Commission. The forward-looking information provided by the Company in this press release represents the Company’s estimates as of November 2001. We anticipate that subsequent events and developments will cause the Company’s estimates to change. However, while the Company may elect to update this forward-looking financial information at some point in the future, the Company specifically disclaims any obligation to do so. This forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this release.
CONTACT: Apollo Associates
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Dennis Brown, 603/324-3000