Aliter-backed Sponge has completed its acquisition of Idox Compliance from its parent Idox plc. With operations in Germany, Belgium and the UK, Idox Compliance provides corporate compliance eLearning solutions to customers across Germany, Austria, Switzerland and the rest of Europe.

Idox Compliance’s leading corporate compliance content, large corporate relationships and geographic footprint are complementary to Sponge’s existing business, which has been created by Aliter through its bringing together of three digital learning businesses, Bolt Learning, Sponge and Skill Pill. Together as one group, it has evolved under Aliter’s direction and continues to exceed its targets despite a challenging economic backdrop.

Michael Kayser, Managing Director of Idox Compliance, says: “We are looking forward to joining an emerging leader in the eLearning space and being a key part of their strategy for growth. We are excited at the prospect of being able to offer a broader range of digital learning solutions to our existing customers.”

Billy Allan, Chairman of Sponge and Managing Partner of Aliter, says: “We are delighted to complete the acquisition of Idox Compliance, which we see as highly complementary to our business. It will greatly strengthen our existing content library as well as grow our footprint internationally. I look forward to working with Michael and his team.”

Read more/Source: Private Equity Wire