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D2L Inc
> D2L Inc. Announces Spin-out Transaction
Post by
Betteryear2 on Apr 03, 2024 6:33pm
D2L Inc. Announces Spin-out Transaction
- D2L is spinning out D2L Wave into a standalone independent company
- Transaction provides greater focus and alignment across the core D2L business and is consistent with the Company's emphasis on balancing growth and profitability
- D2L remains highly focused on growing within the corporate market through its award-winning Brightspace learning platform
- D2L to retain 30% ownership interest in the new company
TORONTO, April 3, 2024 /CNW/ - D2L Inc. (TSX: DTOL) ("D2L" or the "Company"), a global learning technology company, announced today that it has entered into a binding letter agreement (the "Letter Agreement") to spin-out D2L Wave into a new independent standalone company, SkillsWave Corporation ("SkillsWave"), and will sell majority ownership to a company owned by John Baker, with an expected mid-year closing date. D2L Wave is an early stage upskilling technology, representing a very small percentage of D2L's overall revenue in Fiscal 2024, and is separate from D2L's corporate learning core business. The D2L Wave upskilling technology was created to help businesses prepare for the future of work by tackling the skills and talent gap. This transaction enables the Company to increase focus on the continued growth and profitability of the core SaaS business, led by its industry-leading learning platform Brightspace in the global education and corporate markets.
D2L Inc. Announces Spin-out Transaction for D2L Wave (newswire.ca)
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