HT2 Labs Acquires Riptide Elements Digital Training Software Platform
[Oxford, UK:] HT2 Labs has acquired Riptide Software Inc’s Learning Record Store (LRS) product through a combined partnership between the two companies, with expectations set that the deal will add more than $1m to the combined businesses revenue over the next two years.
This acquisition and partnership between two leaders in the industry of eLearning will add Riptide’s U.S. based presence to HT2’s global footprint, forming the most comprehensive LRS platform and services business available today powered by the Experience API, a new specification for learning technology.
With combined Fortune 100 customers across the globe, HT2 will now be able to further extend its reach to customers in the United States more directly through the acquisition of Riptide’s products and customer base.
HT2 Labs’ CEO, Ben Betts, commented:
“I’m thrilled to have the opportunity to expand our reach inside the U.S. and offer our customers great technology through the integrations Riptide has completed. Consolidation within our industry is coming and, as pioneers in workplace digital learning, HT2 Labs is excited to be at the forefront of deploying xAPI-enabled software for large enterprises. We fully expect this tie-up to deliver at least $1m in additional revenue back to our partnership over the next two years. This deal is the first of more to come as we scale our ambitions for Learning Locker and HT2 Labs, globally”.
Riptide Software’s Founder and CEO, Philip Loeffel, added:
“We are excited to now be a part of what Ben and his team have built and achieved on a global scale. The consolidation of our LRS products under Learning Locker v2 combined with the addition of Riptide’s connectors will provide scale and features well ahead of all competitors in the space.”
Both HT2 Labs and Riptide will be exhibiting at the forthcoming DevLearn 2018 event in Las Vegas, NV. Clients, prospects and partners can book time with both teams to understand how Riptide’s Elements Digital Training software will be added to HT2 Labs portfolio of software and services.
About HT2 Labs
HT2 Labs are a team of digital learning pioneers, working with ambitious businesses to develop exceptional talent among their workforce. By redefining what is possible for digital learning opportunities in the workplace, we have created award-winning, next-generation learning software, including Stream LXP (formerly Curatr) and Learning Locker. Visit ht2labs.com for more information.
About Riptide Software
Riptide Software is an award-winning CMMI Level 4 technology company headquartered in Central Florida. Since 1995, Riptide has delivered state-of-the-art military training systems that support our War-fighters through software and integrated hardware design, development, manufacturing, and sustainment of advanced technology systems using live, virtual, and constructive simulations. Riptide’s four divisions also include a wide array of products and services for the Department of Defense and various commercial industries. These services include: defense modeling and simulation, training systems, managed IT services, on-demand technologies, and machine learning/AI. Visit https://www.riptidesoftware.com/ for more information.