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STT has been acquired by Kaplan inc.
The acquisition of Software Training Technology will increase Kaplan, Inc.’s foothold in the corporate and government markets and expand Kaplan IT’s offerings with the addition of software simulations and documentation for end-user training.
Geoff Lander
,
CEO & Founder
Since we were based in Cape Town South Africa, thousands of miles from a potential acquirer, selecting the right M&A partner was of critical importance. Experience, trust, professionalism and a proven track record were all crucial requirements. SEG exceeded our expectations on all accounts with a very structured yet strategic approach to all aspects of the acquisition, attention to detail and excellent communication throughout, which ultimately led to the successful sale of STT in the US. We could not have done it without them."
- Geoff Lander, CEO, STT
SEG served as exclusive advisor to STT
Client Description
The company
South Africa-based STT provides software that enables organizations to rapidly generate software simulations and documentation for large-scale training on business applications such as SAP, Oracle, and PeopleSoft.
Buyer Description
The company
Kaplan, which had 2004 revenue of more than US$1.1 billion, offers higher education, professional training, test preparation, services for K-12 schools, and after-school learning programs.
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PRESS RELEASE OVERVIEW
Software Equity Group’s Client Software Training Technology (STT) Acquired by Kaplan, Inc.
San Diego, CA, July 19 – Software Equity Group, LLC (SEG), a leading investment bank and M&A Advisor for privately-held software companies and IT service providers, announced today the acquisition of its client, Software Training Technology, Ltd. (STT) by Kaplan Professional, a division of Kaplan, Inc. Kaplan, which had 2004 revenue of more than US$1.1 billion, is an education services provider that offers higher education, professional training, test preparation, services for K-12 schools, and after-school learning programs.
STT’s software enables organizations to rapidly generate software simulations and documentation for large-scale training on business applications such as SAP, Oracle and PeopleSoft. More than 200 companies and government agencies worldwide use STT, including Airbus, British Airways, Dell, Office Depot, Shell and Siemens.
STT will become part of Kaplan IT, Kaplan’s division that offers exam preparation and e-learning to the IT industry, as well as software training and consulting for law firms. The acquisition will increase its foothold in the corporate and government markets and expand Kaplan IT’s offerings with the addition of software simulations and documentation for end-user training.
“STT’s innovative software simulations will enable our customers to lower the cost and time required for large-scale end-user training by minimizing the need for classroom instruction,” said Chip Schuneman, President of Kaplan IT, the Kaplan subsidiary that offers technology training for individuals and corporate clients. “STT enables customers to train on software simulations at their desks to learn applications such as SAP, Oracle and PeopleSoft.”
STT has been a pioneer in software simulations since 1998. Headquartered in South Africa, STT has field offices in the US and United Kingdom. In March 2005, STT was judged “Most Innovative” by attendees of Brandon-Hall and Training Magazine’s Software Simulation Shootout – the e-learning industry’s leading conference and exhibition.