SmartForce and Exult to Provide Integrated eLearning Solutions to Global 500
IRVINE, Calif. and REDWOOD CITY, Calif. – October 17, 2001
Exult, Inc. (Nasdaq: EXLT), a leader in HR business process outsourcing focused on serving the Global 500, and SmartForce (Nasdaq: SMTF), the world’s largest eLearning company, today announced that they have entered into a strategic relationship to deliver advanced eLearning solutions to the Global 500. The six-year deal is expected to have a value of between $17 and $28 million over the term.
Under the terms of the agreement, SmartForce eLearning will be integrated into Exult’s eHR service offering so as to allow Exult’s Global 500 clients to make available across their enterprises the entire range of SmartForce eLearning solutions. Exult clients will be able to access new SmartForce offerings as they are added to the solution.
As the leading HR business process outsourcer for the Global 500, Exult is constantly seeking new ways to improve the quality and efficiency of the services it delivers to its clients. Because training is a critically important business process in large enterprises, SmartForce eLearning will be a key enabler in the Exult HR solution.
“We are very pleased to partner with Exult to deliver e-Learning solutions to the Global 500,” said Greg Priest, chairman and CEO of SmartForce. “The Exult model continues to gain attention in the marketplace and this relationship marries the strengths of two market leaders while giving SmartForce a powerful new channel into a critical segment of the enterprise market.”
Exult elected to work with SmartForce for its leading position and brand in the eLearning industry. SmartForce’s combination of the industry’s largest, broadest and most powerful body of business and technical eLearning content, and its comprehensive e-Learning technology were central to Exult’s decision to partner with SmartForce.
“We believe this agreement is exceptional in its scope of offerings. It will allow Exult to deliver to our clients the productivity enhancements enabled by eLearning technology and the cost savings made possible through our preferred provider relationships,” said Kevin Campbell, Exult’s chief operating officer.
Together with Exult’s Service Delivery ModelSM, this solution allows global enterprises to organize e-Learning content, implement training, assessment and certification programs, and build knowledge capital in a streamlined, flexible manner.
The SmartForce e-Learning solution contains over 11,000 hours of training segmented into over 20,000 e-Learning objects and allows SmartForce, third-party and company proprietary content to beintegrated into customizable instructional paths that take employees through the learning cycle of instruction, collaboration, practice and assessment.
Exult intends to offer SmartForce’s eLearning solution to improve the productivity and skills of its own employees, as well as those of selected current and future outsourcing clients. The two companies also intend to co-develop unique training content on HR strategy and human capital management that will allow senior HR managers to capture the benefits of the Exult service delivery model.
About Exult
Focused on serving the Global 500, Exult, Inc. is the market leader in HR business process outsourcing. With headquarters in Irvine, California and client service centers in the U.S. and Europe, Exult offersExult eHRSM; a comprehensive service designed to manage the entire human resource departments for Global 500 corporations. Exult’s strategy is to transform Global 500 HR departments by implementing the Exult Service Delivery ModelSM and operating scalable process management solutions.
Exult uses its HR best practice expertise, shared client service centers, expert HR process consulting capabilities and its myHRSM web-enabled applications to help Global 500 corporations enhance human capital productivity, reduce costs, streamline processes, and provide superior HR services to their employees. Visit Exult’s web site at www.exult.net
