TORONTO — Online learning technology company D2L Inc. says it has acquired software firm H5P Group AS in a deal worth up to US$33 million.
H5P Group was founded in 2014 and is the creator of the H5P software platform which is used to create interactive content.
The company has about 30 employees, primarily based in Norway.
Under the agreement, D2L paid US$25.6 million at closing.
It has also agreed to potential earnout payments of up to US$7.4 million based on performance milestones.
D2L founder and chief executive John Baker says together the companies can speed the development and time-to-market of products and improved creator features, unlocking additional market opportunity.
This report by The Canadian Press was first published July 9, 2024.
Companies in this story: (TSX:DTOL)
The Canadian Press
