Aliter-backed Sponge acquires Idox Compliance, a leading EU-based corporate compliance digital learning specialist
Idox Compliance provides Sponge with an operating presence in the EU for further growth and strengthens its library of market leading, ready-to-go compliance-related content
Sponge has announced the completion of its acquisition of Idox Compliance from its parent Idox plc. With operations in Germany, Belgium and the UK, Idox Compliance provides corporate compliance eLearning solutions to customers across Germany, Austria, Switzerland and the rest of Europe.
Idox Compliance’s leading corporate compliance content, large corporate relationships and geographic footprint are complementary to Sponge’s existing business, which has been created by Aliter through its bringing together of three digital learning businesses, Bolt Learning, Sponge and Skill Pill. Together as one group, it has evolved under Aliter’s direction and continues to exceed its targets despite a challenging economic backdrop.
Michael Kayser, Managing Director of Idox Compliance said: “We are looking forward to joining an emerging leader in the eLearning space and being a key part of their strategy for growth. We are excited at the prospect of being able to offer a broader range of digital learning solutions to our existing customers.”
Billy Allan, Chairman of Sponge and Managing Partner of Aliter said: “We are delighted to complete the acquisition of Idox Compliance, which we see as highly complementary to our business. It will greatly strengthen our existing content library as well as grow our footprint internationally. I look forward to working with Michael and his team.”
About Idox Compliance (www.compliance.idoxgroup.com)
Idox Compliance is a leading provider of corporate compliance digital learning content, assisting organisations to comply with laws, regulations and guidelines. The business offers bespoke and ready-to-go content and has a library of 150 modules available across a range of topics and languages. It has offices located in Berlin, Germany and Brussels, Belgium.
About Sponge (www.spongelearning.com)
Aliter made its first acquisition in Sponge in May 2019 with the goal to create a major new player in the corporate learning market, which combines powerful learning technologies with creative content development providing services to a predominately blue-chip customer base across several targeted sectors.
Sponge is a leading custom digital learning provider, offering training solutions that solve multiple business challenges, from risk and compliance, people development and skills enhancement. The Group has been created by bringing together three businesses, Bolt Learning, Sponge and Skill Pill. All with a deep-rooted expertise in creative digital learning content and cutting-edge learning technology solutions with an emphasis on the science of learning.
Aliter Capital LLP is a specialist UK support services investor which announced the close of its specialist support services fund (Aliter Capital I, LP) in February 2017.
Aliter was founded by a group of seasoned support services entrepreneurs and investors – Billy Allan, Greig Brown, Andy Galloway and Andrew Busby – and focuses on small and mid-sized businesses in the UK support services sector, a market valued at over £300 billion. Its approach differs from traditional private equity models by making only a limited number of selective portfolio investments to deliver dedicated hands-on support. Aliter has now closed a total of 19 transactions since the beginning of 2017.