German global media firm Bertelsmann will be buying Relias Learning from Vista Equity Partners and LLR Partners. No financial terms were disclosed. Based in Cary, NC, Relias is a provider of training and compliance solutions for the health and human services market.
Cary, NC (PRWEB) October 21, 2014
Relias Learning, the leader in SaaS-based training and compliance solutions for the health and human services market, announced today that it will be acquired by Bertelsmann, the preeminent global media company based in Germany. Bertelsmann is buying Relias from its current owners, Vista Equity Partners and LLR Partners.
Relias’ headquarters will remain in Cary, North Carolina, and the current leadership team will continue to manage the business. Relias has grown to almost 300 employees, and the company expects to hire more employees to keep pace with a burgeoning e-learning market.
“We are thrilled to become part of the Bertelsmann family,” says Jim Triandiflou, CEO of Relias Learning. “Relias has grown tremendously over the past few years due to our dedication to our customers and our passion for delivering the world’s best online training. Bertelsmann’s entrepreneurial culture, commitment to world class products, international reach, and financial backing will allow Relias to continue investing in our core U.S. markets, as well as internationally, ensuring that we have the very best products in the world.”
“Relias is the leading e-learning provider in the healthcare and compliance sectors, and the company profits from the three global megatrends of education, health and digitization,” says Thomas Rabe, Chairman and CEO of Bertelsmann. “Relias management has done excellent work in building the business over the past few years. We are delighted to welcome this successful team to Bertelsmann, and we look forward to massively expanding the business with them.”
Relias Learning was formed in 2012 through an investment by Vista Equity Partners and the merger of Essential Learning and Silverchair Learning Systems. The company has grown dramatically through acquisitions and organic growth and now serves more than 4,000 organizations with more than 20 million courses completed annually. During the acquisition process, Credit Suisse served as the exclusive financial advisor to Relias Learning.
“Over the past few years, Relias has done a remarkable job growing its customer base without wavering in its commitment to deliver robust, SaaS-based training and compliance solutions for the health and human services markets,” said Rob Rogers, Principal of Vista Equity Partners. “Relias has become the trusted leader in the e-learning market, and the company is well-positioned for continued growth and success.”
About Relias Learning
Relias Learning provides an online training solution for senior care, health and human services, intellectual and developmental disabilities, law enforcement and correctional facilities. Relias offers unrivalled content, the ability for customers to create unique content including live training, and allows for the demonstration of skill and performance, all in a singular, powerful learning management system. For more information, please visit us at http://www.reliaslearning.com or call toll free at 877-200-0020.
Bertelsmann is an international media company whose core divisions encompass television (RTL Group), book publishing (Penguin Random House), magazine publishing (Gruner + Jahr), services (Arvato), and printing (Be Printers) in some 50 countries. In 2013, the company’s businesses, with their more than 111,000 employees, generated revenues of €16.4 billion. Bertelsmann stands for a combination of creativity and entrepreneurship that empowers the creation of first-rate media, communications, and service offerings to inspire people around the world and to provide innovative solutions for customers.
About Vista Equity Partners
Vista Equity Partners, a U.S.-based private equity firm with offices in Austin, Chicago and San Francisco, with over $13.5 billion in cumulative capital commitments, currently invests in dynamic, successful software, data and technology-enabled organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For more information, please visit http://www.vistaequitypartners.com.