D2L Inc. Announces Spin-out Transaction for D2L Wave

TORONTO, April 3, 2024 /CNW/ - D2L Inc. (TSX:DTOL.TO) ("D2L" or the "Company"), a global learning technology company, announced today that it has entered into a binding letter agreement (the "Letter Agreement") to spin-out D2L Wave into a new independent standalone company, SkillsWave Corporation ("SkillsWave"), and will sell majority ownership to a company owned by John Baker, with an expected mid-year closing date. D2L Wave is an early stage upskilling technology, representing a very small percentage of D2L's overall revenue in Fiscal 2024, and is separate from D2L's corporate learning core business.  The D2L Wave upskilling technology was created to help businesses prepare for the future of work by tackling the skills and talent gap. This transaction enables the Company to increase focus on the continued growth and profitability of the core SaaS business, led by its industry-leading learning platform Brightspace in the global education and corporate markets.