Aliter Capital acquires Sponge in second digital learning deal
Aliter Capital has completed a transaction which will see Sponge UK (Sponge), a custom digital learning solutions specialist, coming together with Glasgow-based Bolt Learning (Bolt) to create a new player in the learning technology sector.
Sponge designs and develops bespoke digital learning solutions, including eLearning, learning games, motion graphics, interactive video and immersive technologies (such as VR and AR) and blended learning solutions. Sponge works with some of the world’s largest brands and its solutions are used in more than 124 countries worldwide, with capability to translate into over 200 languages.
Bolt was acquired by Aliter in June 2019 and has expanded rapidly under Aliter’s direction. Bolt also develops eLearning solutions and content but, additionally, provides a sophisticated Learning Management System (LMS) and a range of advanced content development tools.
Billy Allan, managing partner of Aliter, says: ‘Bringing Sponge and Bolt together creates a major new player in the digital learning market which combines powerful learning technologies with creative content development. Our strategy is to build on this foundation to create a broad-based blended learning group underpinned by market- leading learning technologies.’
Louise Pasterfield, Sponge founder and Managing Director, says: ‘Since the start, we have been very impressed with Aliter’s strategy and their vision for the business. The Sponge management team is extremely excited with the opportunities this venture will bring and the additional value-add we’ll be able to deliver to our existing clients and prospects. We foresee the Group expanding rapidly under Aliter’s guidance.’
Tamlin Roberts, Bolt CEO, says: ‘It has been a pleasure in getting acquainted with the senior team at Sponge. We have a complementary range of technologies and capabilities which will enhance the value we can provide to our customers and underpin the next phase of growth.’