D2L Inc. Announces Closing of Previously Announced Spin-out Transaction for D2L Wave

TORONTO, June 28, 2024 /CNW/ - D2L Inc. (TSX: DTOL) ("D2L" or the "Company"), a global learning technology company, announced today that it has completed the previously announced transaction to spin-out D2L Wave into a new independent standalone company, SkillsWave Corporation ("SkillsWave"). The terms of the transaction are consistent with those previously disclosed in the Company's press release dated April 3, 2024.

SkillsWave provides workforce education through a platform and marketplace created with a network of education providers, and is separate from D2L's corporate learning core business. This transaction enables D2L to increase focus on the continued growth and profitability of the core SaaS business, led by its industry-leading learning platform Brightspace in the global education and corporate markets.

About D2L Inc. (TSX: DTOL)
D2L is transforming the way the world learns—helping learners of all ages achieve more than they dreamed possible. Working closely with customers all over the world, D2L is supporting millions of people learning online and in person. Our global workforce is dedicated to making the best learning products to leave the world better than they found it. Learn more at www.D2L.com. 

SOURCE D2L Inc.

For further information, please contact: Craig Armitage, Investor Relations, [email protected], [phone]