Calgary, Alberta, Canada (August 7, 2019) – Absorb Software, provider of the Absorb Learning Management System (LMS) and the newly introduced Absorb Infuse, today announced the acquisition of eLogic Learning, an award-winning LMS based in Tampa, Florida.
The eLogic Learning acquisition closely follows the May 2019 Absorb acquisition of Torch LMS, a Utah-based SaaS LMS provider. Absorb now serves over 1,000 active customers with 225 employees across eight offices.
"Our acquisition of eLogic Learning gives Absorb another major leap forward in our growth ambitions and positions us to use the expanding eLogic global client base to drive Absorb leadership in the international LMS market, as well as enhance our company's ability to serve customers across multiple industries," said Mike Owens, founder and CEO of Absorb. "In addition to growth acceleration and customer acquisition, eLogic will also broaden access to world-class talent and deepen our vertical industry expertise in areas such as retail, healthcare and fast casual dining."
eLogic Learning has succeeded by delivering fast, reliable course performance internationally. The company supports more than 5 million monthly users globally. In addition to its LMS, the eLogic Learning platform also develops custom eLearning content and provides an extensive third-party courseware library.
"This acquisition comes just as the corporate learning market is exploding, and as both companies have emerged at the vanguard of the transformation taking place," said Mark Anderson CEO at eLogic Learning. "Absorb and eLogic both have expertise in building innovative, mobile-centric learning experiences, and together our combined skills will deliver an industry-leading platform that is flexible, engaging and meets the needs of modern workers in a variety of industries around the globe."
Building on the success of the eLogic and Torch LMS acquisitions, Absorb anticipates additional acquisitions in the coming quarters as the company expands beyond organic growth. Absorb is a portfolio company of Silversmith Capital Partners.
Financial terms of the acquisition were not disclosed. Lightning Partners acted as exclusive financial and strategic advisor to eLogic Learning on the transaction. Choate Hall & Stewart served as legal counsel to Absorb Software.