London (UK), July 2021 - Learning Technologies Group plc (LTG), a leader in the high-growth workplace learning and talent industry, has entered into an agreement to acquire GP Strategies for $394 million.
A significant advance for LTG, the addition of GP Strategies introduces highly complementary workforce transformation capabilities. The expertise, capabilities, and reach afforded by the combination will enable the combined group to become a specialist learning and talent partner with the services, skills, and technologies for global businesses looking to transform and reskill their people at scale.
The acquisition enables expansion of LTG's international footprint, blue-chip client base, and cross-sell strategy. GP Strategies will also provide deep industry expertise, including targeted expansion sectors like pharma, aerospace, and automotive and capabilities that include leadership development and technical training.
The acquisition introduces further diversification of revenue streams and an increased global footprint. The latter encompasses deepened penetration into the US and an opening of new markets in Asia, with the basis of a growing and respected L&D brand in corporate China.
Following the acquisition, LTG will have around 5,500 employees worldwide, reaching 80+ countries. The expansion will help customers close the gap between current and future workforce capability on both a global and local basis.
Commenting on the proposed acquisition, Jonathan Satchell, Chief Executive of LTG, said, "Today marks an important moment for LTG as we announce a significant expansion of our business through the proposed acquisition of GP Strategies, a leading learning services and workforce transformation provider. The proposed acquisition brings new capabilities and deep sector expertise in high-value industries. The acquisition provides LTG with a significant opportunity to expand on our long-term customer relationships while bringing a substantial new base of large global customers from GP Strategies.
"I look forward to welcoming GP Strategies' teams and people, who are joining us on an exciting journey as we benefit from consolidation of the growing corporate learning and talent management industry."
Adam Stedham, Chief Executive Officer at GP Strategies, added, "I respect the accomplishments of Learning Technologies Group and their leadership team. We share the same positive outlook regarding our industry, and I am confident they will help continue to accelerate the momentum we have achieved the last few years. I believe their commercial expertise, business practices, and financial acumen, combined with our client relationship strategies, will create the world-class workforce transformation company we all want."