Francisco Partners Completes Acquisition of Litmos from SAP
SAN FRANCISCO – December 1, 2022 – Francisco Partners (“FP”), a leading global investment firm that specializes in partnering with technology businesses, today announced the completion of the acquisition of Litmos (the “Company”) from SAP.
Litmos is an online training platform that makes the management and delivery of web and mobile training courses easy for employee training, customer training, partner training, and more. The company is one of the fastest growing learning technology providers in the world, supporting more than 30 million people in 150 countries, across 35 languages.
In connection with the re-launch of Litmos as an independent company, Mike Scarbrough will be joining the Company as CEO. Mike has over 30 years of professional experience in software and technology. He most recently served as CEO of SalesVista, a sales compensation software company. Prior to SalesVista, Mike served as CEO of Nextech, a healthcare technology company, and previously as CEO of NexTraq, a fleet management software company. Mike has a demonstrated track record of driving product innovation and delivering strong value to customers.
“Since joining Litmos, I’ve been extremely impressed with the team, its customer-centric approach, and its commitment to innovation. In my new role, I promise to embody the spirit of Litmos and deliver customers, partners, and employees a best-in-class experience,” said Mike Scarbrough, CEO of Litmos. “Working with the existing Litmos team and partnering with FP empowers us to focus on customer success and increase customer happiness.”
“We are delighted to partner with Litmos and support its re-emergence as an independent company,” said Jason Brein and Christine Wang, Partners at Francisco Partners. “We are investing in Litmos to accelerate growth by investing in and expanding the Litmos team, advancing product development and marketing, and expanding customer success.”
Kirkland & Ellis LLP served as legal advisor to Francisco Partners.
About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in over 400 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.
Litmos develops eLearning solutions for top-performing companies. An established leader in the market since 2007, Litmos offers the world’s easiest-to-use LMS and a comprehensive course library. Thousands of companies trust the solutions to create, curate, and connect learning content to employees, customers, and partners.
Acquired by CallidusCloud in 2011, then by SAP in 2018, and by Francisco Partners in 2022, Litmos continues to innovate award-winning learning technology and set the standard for customer experience and satisfaction. The solutions are used by more than 30 million people in 150 countries, across 35 languages.
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