Online education specialist Lynda.com appears to have put its recent $103 million funding round to good use, after it announced it has acquired online video training rival Video2brain to further boost its expansion into international markets.
Terms of the deal were not disclosed.
Video2brain, headquartered in Graz, Austria, specialises in delivering online video training in German, French, Spanish and English. As part of the deal, it will become a branded division of Lynda.com, integrating 60 employees, 1,700 video courses and 400,000 subscribers.
In contrast, Lynda.com counts more than two million customers worldwide, offering more than 87,000 videos created by over 250 teaching experts. It was founded in 1995 by Bruce Heavin and Lynda Weinman (who are husband and wife).
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Explaining why the company took the acquisition route, Eric Robison, Lynda.com president and CEO, said:
“This acquisition is an investment in our future as we see a huge growth opportunity in new and emerging markets that demand multi-lingual educational content. We have long envisioned the company providing content in multiple languages. The two options were to organically grow that capability from scratch, or find a company aligned with our culture and business model. What video2brain has built in 11 years is impressive and we are fortunate to welcome their employees, members, partners and authors to lynda.com.”
In January, the company raised $103 million in growth equity from Accel Partners and Spectrum Equity, its first outside investment. This saw Accel’s Andrew Braccia and Spectrum’s Vic Parker join the company’s board of directors.
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