Asymetrix

SumTotal Systems, Inc.
Company type	Private
Industry	Software
Founded	2004
Headquarters	Gainesville, United States
Area served	Worldwide
Products	Human resource management solutions, learning management, workforce management, talent management, payroll, benefits administration
Parent	Cornerstone OnDemand, Inc.

SumTotal Systems, Inc. is a software provider headquartered in Gainesville, Florida, specializing in human resource management solutions and services tailored for both private enterprises and government agencies. Their offerings are available via cloud platforms, including software as a service (SaaS), hosted subscriptions, as well as traditional on-premises licensing.

In September 2014, SumTotal became part of SkillSoft, a company delivering online corporate training. By June 2022, SkillSoft announced intentions to divest SumTotal for approximately $200 million. Subsequently, on August 25, 2022, Cornerstone OnDemand, Inc. finalized the purchase of SumTotal.

1984-1997: Asymetrix

Established in 1984 by Paul Allen and backed by Vulcan Ventures, Asymetrix Learning Systems spent roughly ten years developing software for online education. Its initial products included ToolBook, Asymetrix Librarian, and the e-Learning Network, which was among the early SaaS offerings. The company also introduced a 3D visualization tool called Asymetrix 3D F/X (later known as Web3d) and created the presentation application Compel.

Following a recapitalization in 1995 and a $3.8 million investment from SoftBank in 1996, Asymetrix expanded through acquisitions such as Aimtech, Oakes Interactive, Acorn Associates, TopShelf Multimedia, Meliora Systems, and Strategic Systems Associates. It went public in June 1998, raising around $31 million with Allen maintaining close to 45% ownership. In September 1999, it issued $10 million in preferred shares to Vulcan and Marshall Capital.

In October 1999, under CEO James A. Billmaier, Asymetrix rebranded as click2learn.com. Although revenues increased during the dot-com boom, the company continued to experience operational deficits. Kevin M. Oakes took over as CEO in January 2000. The firm spun off its graphics software division into InfoModelers, which was later acquired by Visio Corporation. Additional acquisitions included IntelliPrep Technologies and Meliora Systems' Ingenium. These products were unified under the Aspen Enterprise Productivity Suite, yet financial losses persisted through 2002, resulting in staff reductions. In 2003 click2learn announced plans to merge with Docent Software.

1997Template:En dash2002: Docent Software

Founded in 1997 in Mountain View, California by David Mandelkern and Pardner Wynn, Docent Software specialized in training software for business applications. It integrated Stanford Testing Systems' TestPrep product and secured venture capital from firms such as Norwest Venture Partners and Advanced Technology Ventures. After incurring losses between 1997 and 1999, David R. Ellett succeeded Wynn as CEO in 1998.

Docent went public on NASDAQ in September 2000, raising roughly $85 million. In October 2001, it acquired gForce Systems for $5.3 million including liabilities. R. Andrew Eckert was appointed president in December 2001 and CEO by April 2002. To reduce expenses, Docent cut its workforce by about 20% by 2002.

2003Template:En dash2004: SumTotal Systems

In 2003, click2learn and Docent declared a merger agreement whereby click2learn shareholders obtained approximately 52% of the combined company's stock while Docent shareholders held about 48%. At that time, click2learn employed over 300 people (including around 100 based in Hyderabad, India), whereas Docent had roughly 170 employees.

Initially named Hockey Merger Corporation in February 2004, the merged organization adopted the name SumTotal Systems by March of that year with its headquarters located in Gainesville, Florida. The merger was finalized later that year with shares trading on NASDAQ under the ticker "SUMT" (previously CLKS and DCNT).

2005Template:En dash2017: Expansion through Acquisitions

In October 2005, SumTotal expanded its offerings by acquiring Pathlore, a learning management system focused on mid-market clients in the healthcare and state and local government sectors. The following year, November 2006, the company further broadened its portfolio with the purchase of MindSolve Technologies, a performance management software firm established in 1994, for approximately $12 million.

Vista Equity Partners, a prominent private equity firm specializing in software investments, agreed to acquire SumTotal for $160 million in May 2009, finalizing the deal by July of the same year.

SumTotal continued to grow through acquisitions in early 2011, starting with GeoLearning on January 5. In July 2011, it added CyberShift—a Parsippany, New Jersey-based provider of SaaS multitenancy workforce management and expense solutions—and Accero, an enterprise payroll and benefits software company.

In August 2014, Skillsoft Limited revealed that its subsidiary, Skillsoft Corporation, would acquire SumTotal Systems from Vista Equity Partners. This transaction was completed in September 2014, incorporating SumTotal into Skillsoft’s suite of computer-based learning software and content offerings.

Technology and services

SumTotal offers a comprehensive range of solutions including learning management, workforce management, talent management, human resources, planning, analytics, payroll, and benefits administration. The company primarily delivers its software through cloud-based SaaS models while also providing some on-premises licensing options. It operates regional offices across the United States, Canada, Europe, and the Asia-Pacific (APAC) region.

References