Ceridian to Acquire eloomi, a Market-Leading Learning and Development Platform
TORONTO and MINNEAPOLIS, Jan. 18, 2024 (GLOBE NEWSWIRE) -- Ceridian (NYSE:CDAY, TSX:CDAY), a global leader in human capital management (HCM) technology, today announced it has entered into a definitive agreement to acquire eloomi, a leading learning experience platform software provider based in Copenhagen, Denmark, and Orlando, Florida. The acquisition is expected to close in Q1 2024 and will be funded with existing balance sheet cash.
"The dynamic learning and development needs of today's boundless workforce require leading enterprise solutions. The acquisition of eloomi will help supercharge the people development capabilities of Dayforce, equipping customers with more engaging learning and development experiences, AI-driven content creation, and extended enterprise learning capabilities," said Joe Korngiebel, Chief Product and Technology Officer, Ceridian.
With the global Learning Management System (LMS) market size expected to reach $54.69 billion by 20321, forward-thinking leaders need to focus on continual skills optimization to remain competitive and to foster communities of engaged and empowered learners.
Ceridian is seizing on this opportunity for its customers by integrating eloomi's capabilities seamlessly into the Dayforce platform to improve existing learning management and talent offerings. Dayforce customers worldwide will benefit from a single data model and a single experience that includes an end-to-end learning platform, learning content, people development, skills intelligence, and employee communications functionality.
The eloomi acquisition will introduce innovations that expand and enhance Ceridian's current learning and development offerings, such as:
- Enterprise-grade learning capabilities to support tailored training programs for the extended enterprise including employees, contingent labor, partners, and customers.
- Mobile-first frontline training and communication solutions connecting employees to engaging and accessible content and resources.
- Powerful AI co-writer that augments content authoring, saving valuable time and dramatically improving the productivity of L&D teams.
- Upskilling and reskilling functionality through curated learning content, automated suggestions for tailored training, and personalized learning paths.
- Innovative people development with clear and actionable goal management combined with automated development journeys, conversation talking points, and action items.
- Industry-leading learning content marketplace featuring high-quality content – all accessible on-demand.
- Engaging employee communications delivered through an engaging mobile and web-based news and activity feed, secure chat, and community spaces platform.
eloomi's all-in-one, modern learning platform offers the power of a compliance-driven LMS together with the benefits of a leading Learning Experience Platform (LXP). It provides leading learning and development capabilities to more than 850 customers around the world, including BigChange, GettyImage, Icelandair, and PM Hotels.
"Our customers are at the heart of everything we do – and we couldn't be more excited to expand the breadth and depth of our worldclass learning and development capabilities to new and existing customers with Dayforce," said Claus Johansen, Founder and CEO, eloomi.
"Together with eloomi, we'll fulfill our shared ambition of making work life better for our customers and their modern, boundless workforce," concluded Korngiebel.
eloomi is backed by the Export and Investment Fund of Denmark (EIFO) www.eifo.dk, Kennet Partners www.kennet.com, and Great Hill Partners www.greathillpartners.com.
About Ceridian
Ceridian. Makes Work Life Better™.
Ceridian HCM Holding Inc. ("Ceridian" or the "Company") (NYSE:CDAY) (TSX:CDAY) is a global human capital management software company. Dayforce, our flagship cloud HCM platform, provides human resources, payroll, benefits, workforce management, and talent management functionality. Our platform is used to optimize management of the entire employee lifecycle, including attracting, engaging, paying, deploying, and developing people. Ceridian has solutions for organizations of all sizes. Visit Ceridian.com or follow us @Ceridian.
About eloomi
eloomi is a global recognized software company within learning and development. The eloomi platform makes it easy for companies worldwide to train and develop their employees, clients and partners. eloomi combines easy-to-use Learning Management System (LMS) tools with an innovative Learning Experience Platform (LXP) and Talent Management (TM) capabilities to help companies make learning and development successful. Visit eloomi.com.
Forward-Looking Statement and Risk Factors
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding the acquisition of eloomi; the integration of eloomi's products into ours; the enhancement of Dayforce's learning management and talent offerings as a result of the acquisition; and our expectations, hopes, intentions, or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to the future and are not statements of fact, actual results may differ materially from those projected. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, we undertake no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.
This press release should be read in conjunction with the risks detailed in the "Cautionary Note Regarding Forward-Looking Information," "Forward-Looking Statement", "Risk Factors" and other sections of Ceridian's Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and other reports we file with the Securities and Exchange Commission. Copies of reports filed with the Securities and Exchange Commission are posted on our website and are available from us without charge.
Investor Relations contact:
Matt Wells
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Media contact:
Teri Murphy
1- 647-417-2117
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