In this chapter we propose functional specifications and a component-based architecture for designing e-learning platforms. An important feature is that the proposed specifications and architecture are based on the experience gained in an e-learning company and result from a reengineering process. To guide the reengineering process, we used two reference models, which are the e-learning global process and the e-learning global cycle. The functional specifications are described according to the e-learning global cycle phases and they are used to propose a software component based architecture. The proposed kernel of components was completed with services to allow interoperability and standard compliance between several e-learning platforms. We hope that this case-study exemplifies e-learning platform suppliers’ needs and available pragmatic solutions. We conclude on foreseeable evolutions of e-learning actors needs and practices and on new platform features for fulfilling such needs.