Private equity firm Kennet Partners has agreed to a deal to sell learning and development platform provider Eloomi, which it co-owns with Great Hill Partners and the Export and Investment Fund of Denmark (EIFO), to Ceridian, netting a 3x return on its initial investment.
Ceridian, a blue-chip HR software company, is expected to close the acquisition in the first quarter of 2024.
Eloomi was founded in 2015 as a SaaS learning and development platform focused on training and people development within global corporates. Kennet first invested in Eloomi in 2019 as part of a $12m Series A funding round.
The company now comprises 150 employees and has a significant presence in the Nordics, UK and USA.
