ABSORPTION: True to its name, Absorb Software, a provider of learning management systems used by education, nonprofit and corporate institutions, has acquired eLogic Learning, a Tampa, Fla.-based company that offers similar tools. Terms of the deal were not disclosed in the announcement.
Founded in 2001, eLogic Learning says its learning management tools and course development services reach 5 million users around the world every month. Following this deal, Absorb now claims to serve “more than 1,000 active customers with 225 employees across eight offices,” according to the news release.
This marks the second LMS acquisition this year for Absorb, a Calgary, Canada-based company that received a $59 million investment from private equity firm Silversmith Capital Partners in 2017 to expand globally. Earlier this year, Absorb acquired Torch, a Utah-based provider.
