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Pluralsight (NASDAQ: PS) has appointed Lindsay Bayuk as Chief Marketing Officer, effective immediately. Bayuk, who previously served as interim CMO and Vice President of Portfolio Marketing, has been with the company since 2016. In her new role, she will manage the global marketing organization, focusing on brand, demand generation, and customer marketing. CEO Aaron Skonnard praised her contributions, which include establishing enterprise positioning and leading brand marketing efforts. Bayuk brings extensive B2B SaaS experience to the position.
Pluralsight (NASDAQ: PS) announced an adjournment of its special shareholder meeting initially set for March 2, 2021, to March 9, 2021. This delay aims to gather more proxy votes and discuss potential adjustments to a transaction with Vista Equity Partners, which proposes to acquire Pluralsight for $20.26 per share, valuing the deal at approximately $3.5 billion. No other business will be conducted during the meeting. The record date for shareholder voting remains January 15, 2021.
Pluralsight (NASDAQ: PS) strongly defends its transaction with Vista Equity Partners following ISS's negative analysis. The acquisition offers significant value, with a 26% premium on undisturbed prices and compelling multiples compared to recent M&A transactions. Pluralsight's independent Transaction Committee secured a much higher offer than Vista's initial proposal and addressed significant operational risks. The company urges shareholders to vote for the transaction on March 2, 2021, emphasizing that only Vista submitted a proposal during the process, suggesting a lack of alternative valuations.
Pluralsight, Inc. (NASDAQ: PS) reported strong financial results for Q4 and FY 2020. Q4 billings reached $151.1 million, a 18% increase year-over-year, with revenues of $105.0 million, also up 18%. For the full year, billings totaled $430.4 million, up 14%, and revenue was $391.9 million, marking a 24% increase. Gross margins improved slightly to 79% in 2020 versus 77% in 2019. However, net losses per share decreased marginally, with a Q4 loss of $0.30, down from $0.31 in the previous year.
Pluralsight, Inc. (NASDAQ: PS) encourages shareholders to vote 'FOR' its proposed acquisition by Vista Equity Partners during the special meeting on March 2, 2021.
The transaction promises substantial value, offering a cash premium of 26% over the undisturbed price, with multiples above the median in prior M&A deals.
However, challenges remain, including intense market competition and the need for future acquisitions which could pose execution risks. The independent Transaction Committee believes this acquisition is a more favorable option than pursuing a standalone strategy.
On February 9, 2021, Pluralsight (NASDAQ: PS) announced a partnership with Degreed to enhance technology upskilling efforts. This collaboration aims to provide a seamless integrated experience for joint customers, allowing them to better assess and improve their employee skill inventory. Key features include the incorporation of Pluralsight's Skill IQ assessments into Degreed's analytics, enabling enhanced visibility into technology skills. This partnership supports organizations in aligning skills with business objectives, ultimately facilitating digital transformation.
Pluralsight, a technology workforce development company, announced the integration of its Skills platform with Microsoft Viva. This collaboration enables Microsoft customers with active Pluralsight Skills licenses to access Pluralsight’s extensive library of technology courses directly through Microsoft Teams. The integration aims to enhance employee learning experiences and foster a culture of ongoing education, allowing enterprises to develop crucial technology skills. The partnership underscores the shared commitment of both companies to improving employee engagement and skill development.
Pluralsight (NASDAQ: PS) announced a definitive agreement to be acquired by Vista Equity Partners for $20.26 per share in cash, representing a 25% premium over its 30-day average price. The independent Transaction Committee and Board believe this transaction provides immediate and certain value to shareholders. Despite recent revenue growth, Pluralsight faces significant competition and risks that have led to stock volatility. The merger is seen as a strategic move to maximize shareholder value, especially in light of challenges in the competitive landscape.
Pluralsight (NASDAQ: PS) has partnered with Ryanair to enhance its engineering team's productivity by utilizing Pluralsight Flow. This strategic collaboration aims to improve workflows with analytics and actionable insights, enabling Ryanair to adapt to remote work challenges. The initiative has already led to increased productivity for Ryanair's technology leaders, allowing better management of their engineering processes. According to Ryanair's CTO, the insights from Flow empower teams and help them overcome roadblocks, ensuring faster delivery of technological solutions.
Pluralsight (NASDAQ: PS) has announced the acquisition of Next Tech, a San Diego-based provider of cloud-based computing environments. This strategic move aims to enhance Pluralsight's technology skills platform by integrating hands-on experiences into existing content. CEO Aaron Skonnard highlighted the growing necessity for businesses to invest in team skills for digital transformation. The acquisition seeks to deliver a more comprehensive solution to upskill and reskill teams effectively, leveraging both video content and practical experiences.