Annual report pursuant to Section 13 and 15(d)

Note 23 - Related Party Transactions

Note 23 - Related Party Transactions
12 Months Ended
Jan. 31, 2024
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]

(23) Related Party Transactions


Agreement with Largest Shareholder


On January 31, 2022, Skillsoft entered into a commercial agreement to provide off-the-shelf Skillsoft products to the Company’s largest shareholder, MIH Learning B.V., and its affiliates for $0.7 million over three years.


Codecademy Transaction


An affiliate of our largest shareholder, MIH Learning B.V. also owned approximately 23.8% of the outstanding equity of Codecademy which we acquired on April 4, 2022, as discussed in Note 3 and elsewhere.


Consulting Services


In December 2021, Skillsoft engaged The Klein Group, LLC (the “Klein Group”) to act as an advisor to the Company regarding a potential transaction with Codecademy, to assist management in its evaluation of the business opportunity and structuring and negotiation of a potential transaction. Pursuant to this engagement, Skillsoft paid the Klein Group a fee equal to $2.0 million in connection with the Codecademy acquisition. Michael Klein, a member of our Board, is the Chief Executive Officer of the Klein Group, and the Klein Group is closely affiliated with our second largest shareholder.