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Welsh software firm Weekly10 has been acquired by a Danish AI tech venture for £3.6m. The Wrexham-based company was bought by LMS365, a cloud-based learning platform built into Microsoft 365 and Teams, in a transaction completed as a cash and shares purchase.

Weekly10 is an employee engagement and performance management software built for Microsoft Teams whose customers include Clarks and Canon. LMS365, which recently raised £15.7m ($20m) in a Series A funding round, said the acquisition will allow both firms to leverage Microsoft’s AI technology to simplify and accelerate skill development for employees in government and commercial organisations.

Following the purchase, Weekly10’s chief executive Andrew Roberts will join the executive team at LMS365 as executive vice president of product. Mr Roberts said: “We are super excited to join the team at LMS365. Obviously, we were enjoying 60%-plus growth, but the combination of learning, engagement, and performance is a much more powerful combination to bring to market. I truly believe that for HR and learning and development professionals, we are going to offer a new way of making employees much more successful.”

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LMS365’s chief strategy officer Henrik Jeberg said the acquisition could unlock a market potential of over $10bn. Mr Jeberg said: “Learning, engagement, and performance are intricately linked, and with Weekly10, we have found the perfect match.This collaboration not only aligns with our go-to-market strategies, but also brings together sophisticated technology and a user-friendly platform.

“By joining forces, we are unlocking a vast market potential of over $10 billion and enabling our customers to maximise the value of their investment in LMS365’s award-winning learning management platform.”

Chief business officer Robin Daniels said: “The way we deliver learning and people development today is vastly different from before COVID. Therefore, the question we asked ourselves is – what does human success look like in the age powered by AI?

“We believe that the future of human success comes from people who are constantly learning, deeply engaged in their work and with their colleagues, and who set clear performance targets for themselves, their teams, and the business. The future remains human-centric, but with the assistance of advanced AI, we can enhance the way we work and achieve even greater success.”