Tuesday, July 22, 2008

OutStart buys education tools maker Eedo Knowledgeware

By Mass High Tech Staff

Learning software maker OutStart Inc. reports that it has merged with Quebec, Canada-based Eedo Knowledgeware Corp.

The combined company, which will employ 130 workers, plans to conduct business as OutStart and maintain headquarters in Boston. The merged company will serve more than 300 customers, with nearly 40 percent of its business from international clients, company officials said.

The new OutStart will operate offices in the United States, Canada, England, Germany, Ireland and the Netherlands. Financial terms of the deal were not disclosed.

Eedo Knowledgeware, founded in 1999, develops a set of tools for business people and learning experts, addressing knowledge management requirements including; learning content management, dynamic delivery, rapid authoring, assessment, knowledge sharing, simulation, performance support and indexing and search.

In 2006, Eedo Knowledgeware launched a Boston-based spin-off venture, Protiam Inc., to generate business in the contact center market.

OutStart, founded in 1999, has operated with more than $20 million in venture capital from Sigma Partners, which operates an office in Boston, Cambridge-based General Catalyst Partners and Newton Center-based GrandBanks Capital.

Last year, the company launched OutStart GmbH, a German subsidiary, following the acquisition of LearnCube, an e-learning product in the region. Financial terms of the deal weren’t disclosed. The division is headquartered in St. Ingbert, Germany, serving customers in Austria, Switzerland and Germany.