Estimated read time: 2-3 minutes
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
FARMINGTON — Pluralsight is working to finalize its first acquisition since it went public last year.
The Utah-based tech education company said it is purchasing GitPrime, a top developer productivity platform, for $170 million in cash. The deal is expected to be finalized next week, company officials said on Wednesday.
A Pluralsight spokesman said GitPrime is connected to “virtually every code repository in use today, capturing data around every developer code commit and providing technology leaders unprecedented visibility and insights into the efficiency and productivity of their development teams.”
Officials believe the acquisition will allow companies who use Pluralsight for tech education to know if it’s working.
“The integration of GitPrime with our leading technology skills platform is a win for our customers and will greatly expand the Pluralsight platform to provide even more value to technology leaders and developers,” Aaron Skonnard, co-founder and CEO of Pluralsight, said in a statement. “The GitPrime team has built something incredible that solves a long-standing problem. I’m excited to welcome them to Pluralsight and integrate their platform so that technology leaders can more fully control their tech-driven futures.”
Pluralsight was founded in 2004 and went public in May 2018. It sold more 23.8 million shares in its first round of public trading. It sold another 15.5 million shares in a second round this March, according to its latest quarterly report.
The report said the company netted close to $53 million in gross profit in the first quarter of 2019, which was 50 percent more than the first quarter last year.
“The increase in gross profit was the result of the increase in our revenue during the three months ended March 31, 2019,” the company wrote in the report.
