London-based Learning Technologies Group will acquire GP Strategies Corporation, a workforce transformation solutions firm. The deal is worth an estimated $394 million.
The companies said that, once the transaction is complete, they’ll form one of the world’s largest solutions providers for businesses as they recast themselves. The company will deliver training, consulting and business improvement services, customized to the needs of each client.Learning Technologies Group will acquire GP Strategies, a workforce transformation solutions firm. The deal is worth an estimated $394 million. #HR #HRTech Click To Tweet
The acquisition also provides GP Strategies with access to a larger client base, broader product and service offerings, and a larger global footprint.
“This combination not only accelerates our growth strategy, but it will also bolster GP Strategies’ best-in-class platform with complementary products and specialist services to drive successful and meaningful workforce transformation for our clients,” said GP Strategies CEO Adam Stedham.
Jonathan Satchell, Learning Technologies Group’s CEO, said the deal had been under discussion for some time. The companies have “been in regular contact with their management about a possible combination over the past few years,” he said.
A Good Fit
The transaction is expected to be completed during the fourth quarter of 2021, subject to GP Strategies shareholder approval, regulatory clearances and other customary closing conditions. Upon closing, GP Strategies will become a division of Learning Technologies Group. The company said it expects to continue going to market with the GP Strategies brand and portfolio of offerings.
Earlier this year, LTG acquired Bridge, a learning and performance platform for mid-sized enterprises. The acquisition included Bridge’s includes a learning management system in addition to performance, engagement and skills development. LTG said Bridge is highly complementary to PeopleFluent, its unit that serves the large enterprise market, and Breezy HR, another unit that serves SMBs.
In February, the company acquired PDT Global, a UK-based D&I training and consultancy firm and wrapped it into Affirmity, LTG’s workforce compliance and diversity business.