CASE STUDY
SPONGE
“Aliter is engaged, supportive and appropriately challenging at board meetings, but giving a CEO the latitude to get on with the job without being smothered. I enjoy the space to be left alone to execute the plan. When things go well, we celebrate collectively and when things go less well, there is a balanced reaction and sober reflection on lessons learned to redress the plan.” ”
Adam Poulter, CEO, Sponge
Sponge is a leading custom digital learning provider, offering training solutions that solve multiple business challenges, from risk and compliance to people development and skills enhancement. The business combines powerful learning technologies with creative content development, delivering services to a predominately blue-chip customer base.
Key facts
Sub sector: Corporate training
Date of initial investment: May 2019
Revenues: £17 million
Number of employees: 170
HQ: Plymouth, England
Acquisitions:
Bolt Learning (2019)
Sponge (2019)
Skill Pill (2020)
Idox Compliance (2021)
Website:
www.spongelearning.com
www.spongecompliance.com/en
VALUE CREATION
Background
The group was created by bringing together four businesses, all with a deep-rooted expertise in creative digital learning content and cutting-edge learning technology solutions.
We made our first acquisition for the group in2019, with the goal to build a major new player in the corporate learning market.
How Aliter has helped
Our first acquisition was Bolt Learning, provider of online training solutions and bespoke eLearning content creation. Aliter then invested in Sponge, a bespoke eLearning content solutions designer, adding scale and a highly attractive blue-chip customer base throughout the UK, Europe and US. Its content has been translated into over 200 languages.
In 2020, we acquired Skill Pill, a digital microlearning specialist, which produces high-quality video, animation, and gamified eLearning content. Skill Pill adds significantly to subscription-based ‘off-the-shelf’ content sales.
The fourth acquisition was Idox Compliance, a leading provider of corporate compliance digital learning content. Idox added bespoke content capabilities and 150 compliance-related, ready-to-go modules to Sponge’s existing content library, providing a platform for further international growth.
Strategy
Through its strategic acquisitions, the group now brings together skills and resources to deliver on our aim to create a broad-based digital learning group, underpinned by market-leading learning technologies. Aliter is supporting further growth, both organically and through the acquisition of additional, complementary businesses.