Skillsoft plans new financing for purchase of SumTotal Systems

By Sara Rosenberg

New York, Aug. 21 – Skillsoft Ltd. has received a commitment for financing to help fund its acquisition of SumTotal Systems LLC from Vista Equity Partners, according to a news release.

Barclays, Morgan Stanley, Deutsche Bank and Credit Suisse are leading the financing.

Closing is expected in about 45 days, subject to various conditions, including the expiration of the applicable waiting period under the Hart-Scott-Rodino Act.

Skillsoft is a Dublin, Ireland-based provider of cloud-based learning services. SumTotal is a Gainesville, Fla.-based provider of integrated HR solutions.

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