Pluralsight’s First Post-IPO Acquisition: $170M for Developer Platform,...

Mergers and Acquisitions

Pluralsight’s First Post-IPO Acquisition: $170M for Developer Platform, GitPrime

May 3, 2019

GITTIN’ IT DONE: Pluralsight, the Utah-based provider of online courses focused on technology skills, will be making its first acquisition since it went public in May 2018. The target: GitPrime, a platform that aggregates activity from different code repositories (including Bitbucket, GitHub and GitLab) to provide insights into development projects.

The transaction is expected to close next week, for $170 million in cash.

Founded in 2004, Pluralsight currently offers more than 6,000 courses and claims over 16,500 business customers, including 70 percent of Fortune 500 companies. On its latest earnings call, the company said it has 318 customers with annual billings exceeding $100,000, 57 with more than $500,000 in billings, and 17 with over $1 million. Pluralsight reported $69.6 million in revenue for the first three months of 2019—a 40 percent increase over the same period in 2018.

Prior to going public, the company had raised close to $200 million in venture capital and acquired 8 education companies.

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