RealTime IT News

SkillSoft Seals Deals, Predicts Profit

SkillSoft , a Nashua, N.H., maker of distance-learning software, has signed deals totaling $9 million with three financial institutions and two consulting firms.

Under the multi-year agreements, thousands of financial services, consultants, and staff employees will have access to business and professional skills courses from SkillSoft's library.

Three of the customers will access courses through SkillPort, SkillSoft's Web-based platform for setting up prescribed curricula, course administration, and tracking individual progress. The remaining two licensed the firm's new SkillSimulations, which reinforces skills acquired through previous SkillSoft instruction.

"We are seeing strong demand for our products as organizations implement e-learning on an enterprise-wide basis," said Chuck Moran, SkillSoft's president and CEO. "Even in economic slowdowns, many leading companies see cost-effective, highly efficient training as a key factor in overall profitability and competitive advantage."

Skillsoft targets Global 2000 companies. Its course library covers an array of business skills, including management, leadership, communication, project management and customer service, as well as business subjects such as e-commerce, finance, marketing, sales, and strategy.

Shares of SKIL jumped 1.65, or nearly 10 percent at midday, on news of the deal as well as an announcement that the company expects to be profitable this quarter. In the last 52 weeks, the issue has ranged from 11.75 to 38.94.