Bengaluru headquartered digital adoption solution provider Whatfix has announced the acquisition of learning management system (LMS) provider Nittio Learn for an undisclosed amount in a cash and equity deal.
The acquisition will help Whatfix accelerate its product roadmap.
This marks the SoftBank backed company’s second acquisition in two years, after it acquired AI-powered personalisation engine provider, Airim in 2019.
Founded in 2013 by Gagandeep Josan and RS Aravindan, Nittio Learn will add capabilities for additional content authoring, creation of training courses and assessment platform to Whatfix’s offerings.
The company’s 10 employees will join Whatfix and the acquisition has also given an exit to the only investor in Nittio, Upekkha Accelerator.
“Nittio Learn has been helping Learning & Development teams build learning experiences that reduce training turn-around and ramp-up time for today’s digital workers. Whatfix, with their laser focus on helping customers overcome technology complexities is a perfect match for our product and our team,” Gagandeep Josan, CEO of Nittio Learn, said in a statement.
Whatfix CEO Khadim Batti told TechCircle that the company is evaluating multiple acquisitions to strengthen its product roadmap and offerings in the coming quarters.
“There are two parts to the acquisition strategy and we are also hiring someone to look at M&A as part of our corporate development strategy. One case of acquisition will be companies who can help us fast-track our offerings in the space of data analytics, artificial intelligence, computer vision and others,” Batti Told TechCircle.
He added, “We are also looking at global expansion and for enterprise-wide deployment of our product if we need local or regional consulting companies, we might think about those opportunities later.”
Whatfix raised $90 million in a Series D round led by SoftBank in June. The company which has grown 100% in terms of ARR during the quarter on a year-on-year basis has also added new accounts and eight new partnerships over the quarter, Batti said .
He added that the company plans on expanding to US, UK and continental Europe, apart from Japan.