Silversmith-backed Absorb Software acquires Torch LMS

Absorb Software has acquired Torch LMS, a Lehi, Utah-based software-as-a-service learning management system provider. No financial terms were disclosed. Absorb, a Calgary-based learning technology company, said the acquisition is the first of several it expects to make in the global market with the backing of Silversmith Capital Partners. Silversmith, a U.S. growth equity firm, led Absorb's $59 million financing in 2017. Founded in 2002 and led by CEO Mike Owens, Absorb is the maker of Absorb LMS, a system for businesses, higher education, government and non-profit agencies, and the newly introduced Absorb Infuse.

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