Global corporate digital learning company Skillsoft Corp. (SKIL) announced that it has acquired Pluma Inc. for $22 million. Pluma is a digital professional development and executive-quality coaching platform.
Following the news release, shares of the company rose marginally to close at $9.88 in Wednesday’s extended trading session.
With the acquisition, Skillsoft will enter the rapidly growing area of personalized coaching, which has gained prominence due to the growth of the digital economy. Post the buyout, Pluma will become a part of Skillsoft’s AI-driven Percipio platform.
CEO of Skillsoft Jeffery R. Tarr said, “Pluma’s solution quickly addresses gaps and achieves meaningful, quantifiable improvement with a highly scalable model. We are excited to bring Pluma’s innovative solution to our customers around the world.” (See Skillsoft stock chart on TipRanks)
On June 24, B.Riley Financial analyst Rajiv Sharma initiated a Buy rating on the stock with a price target of $14, which implies upside potential of 42.1% from current levels.
According to Sharma, the revamped Skillsoft company, which comprises the erstwhile Skillsoft and Global Knowledge company, makes it the largest corporate learning platform in the world. The analyst believes that the combined entity is on the verge of a turnaround. With reduced debt on its books, and a new long-term strategic investor base, the company is valued attractively.
Consensus among analysts is a Strong Buy based on 3 unanimous Buys. The average Skillsoft price target of $15.67 implies upside potential of 59.1% from current levels. Shares of the company have declined 12.8% over the past year.
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