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.