Riverside exits Australia's Learning Seat

Riverside acquired the company in 2012 alongside Wingate Private Equity from an Australian media company called News for an undisclosed sum. The GP invested via its $235 million Asia Pacific Fund II, which targets companies with enterprise values of $25-150 million.

Value-add measures during the holding period included helping expand the customer base and the bolt-on acquisition of C-Learning, a complementary Australian online education company. The addition of C-Learning was said to bring new technical capabilities, content development expertise, and customers to Learning Seat.

Additional initiatives included investment in expanding Learning Seat’s workforce and improving sales and marketing capabilities. Riverside also added to the company’s content library, leveraging experience across 90 previous investments in the software and IT space.

“Learning Seat today offers comprehensive training solutions, and we’re pleased it attracted the interest of a strong strategic buyer like Callidus,” Nick Speer, a partner at Riverside, said in a statement.

Learning Seat provides online courses, training tools and other resources geared towards compliance, professional development and accredited training. Clients span sectors including government, education, financial services, health, retail, and hospitality. The company claims that more than 500 organizations across Asia Pacific have used its products.

Riverside has made more than 490 investments since being founded in 1988. The firm’s international portfolio includes more than 80 companies.

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• Topics
• Australasia
• Technology
• Trade sale
• Exits
• The Riverside Company
• Australia
• Education