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Callidus Software Acquires LitmosAcquisition Brings 150 New Customers Adds Mobile, Rapid Learning Management Solution to Callidus' Sales Talent Lifecycle SaaS Platform (June 10, 2011)
PLEASANTON, CA -- (Marketwire) -- 06/10/11 -- Callidus Software Inc. (NASDAQ: CALD), the leader in Sales Performance Management (SPM), announced today it has acquired leading Learning Management Systems (LMS) vendor, Litmos Limited.
"Today, learning and development must be delivered fast and on the move. Mobile professionals consume training the same way they access music, video, and print -- anywhere, anytime, and on any device," said Leslie Stretch, President and CEO, Callidus Software. "With Litmos, we will address the learning and development needs of mobile sales forces, we will embed interactive learning in our core applications, and we will enter the mLearning and eLearning market places. Litmos has quickly gained recognition as the easiest rapid Learning Management System on the web. The acquisition opens up new opportunities in this high growth market and strengthens the value proposition of our core sales talent suite, while increasing our cross selling opportunities."
Litmos LMS is a fast growing online training system with 150 clients and winning approximately 12 new customers per month. The platform delivers a self-service online training system that makes the management and delivery of web-based training courses easy for business users. Litmos is designed from the ground up to be a quick, flexible, easy-to-use platform that enables organizations to create web-based content in multiple formats, distribute the content to users, and track results in real-time. The platform also supports embedded surveys and quizzes to measure knowledge, appraise skill levels, and reinforce retention. Courses created on the Litmos LMS are automatically accessible from iPhone, iPad, iPod Touch, and Android devices as well as the web so that users can access courses anywhere, anytime. Litmos LMS is fully Sharable Content Object Reference Model (SCORM) certified.
"We are excited to join the Callidus family of SaaS solutions and look forward to continuing to innovate our product to deliver the best online learning system on the market," said Rich Chetwynd, Founder & CEO of Litmos. "Callidus' global coverage, dedication to SaaS, and operational maturity will allow us to be even more effective in delivering outstanding customer service and innovative solutions to our growing base of satisfied customers. With half of our clients in the United States, Callidus is the perfect environment to nurture our future growth in the rapid LMS and Mobile Learning markets."
Through the acquisition, Callidus enters the high growth mobile learning market, which was almost $1 billion in 2010 in the US alone, with a five-year CAGR of 13.7%(1). "This acquisition is GREAT news for the eLearning industry. It's always a sign that the market is healthy and companies see potential and value in innovative businesses like Litmos," commented Brent Schlenker, Program Manager and Emerging Technologies Analyst at The eLearning Guild.
Financial terms of the transaction were not disclosed.
About Callidus Software®
Callidus Software (NASDAQ: CALD) is the market and technology leader in Sales Performance Management (SPM). Callidus customers gain a competitive advantage by maximizing sales cost efficiencies and driving improvements in sales effectiveness. Our award-winning Software-as-a-Service (SaaS) applications set the standard for performance management of a company's sales force and channel partners. Over 2 million employees and channel partners have their performance managed by Callidus Software. For more information, please visit www.callidussoftware.com.
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(1) Ambient Insight, The US Market for Mobile Learning Products and Services: 2010-2015 Forecast and Analysis, Sam S. Adkins, Chief Research Officer, May 2011.
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