COLUMBIA, Md., Jan. 17, 2014 /PRNewswire/ -- Global performance improvement solutions provider GP Strategies Corporation (NYSE: GPX) and Effective Companies A/S of Copenhagen, Denmark have entered into a letter of intent under which GP Strategies will acquire from Effective Companies the Effective-People and Effective-Learning companies, providers of human capital management (HCM) solutions, including sales and support of the full SuccessFactors Business Execution (BizX) Platform, eLearning and blended learning solutions, as well as recruitment and employee development services.
Effective-People and Effective-Learning highlights:
- Founded in 1988 and headquartered in Copenhagen, Denmark
- 2013 revenue estimated over $5.5 million
- Clients include Fortune and Global 500 companies
- Have performed over 160 cross-platform HCM implementations in over 70 countries
- Earned Brandon Hall and Bersin awards for leadership in learning excellence
- Established Danish market leader on digital learning experiences
- Is a SAP Gold value-added reseller
- Has been a SuccessFactors cloud partner since 2005
- Has been a SumTotal partner since 2002
This acquisition will strengthen GP Strategies' ability to deliver comprehensive HCM services across its diverse global customer base. The proposed transaction is subject to customary closing conditions, including execution and delivery of an acquisition agreement, completion of confirmatory due diligence and receipt of any required regulatory and third party approvals. The parties anticipate that the transaction will close within the next 60 days.
Kevin Terkelsen, Effective-Companies' Founder and Chief Financial Officer, stated, "The proposed transaction will strengthen our ability to deliver a full HCM service suite to global customers. Specifically, from an Effective-Companies perspective, we are excited about the opportunity to offer the vast GP Strategies portfolio to our existing clients and better serve the growing HCM market needs."
Scott Greenberg, GP Strategies' Chief Executive Officer, stated, "GP Strategies' strength is in the HCM talent solutions areas of learning and performance. The addition of the Effective-Companies and their experienced staff will provide our customers with additional strategic and technical solutions around core human resource (HR) products and services, including the HCM areas of recruiting, onboarding, compensation, succession planning and HR analytics."
About GP Strategies
GP Strategies Corporation (NYSE: GPX) is a global performance improvement solutions provider of training, eLearning solutions, management consulting and engineering services. GP Strategies' solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting and business improvement services customized to meet the specific needs of its clients. Clients include Fortune 500 companies, manufacturing, process and energy industries, and other commercial and government customers. Additional information may be found at www.gpstrategies.com.
We make statements in this press release that are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements reflect our current expectations concerning future events and results. We use words such as "expect," "intend," "believe," "may," "should," "could," "anticipates," and similar expressions to identify forward-looking statements, but their absence does not mean a statement is not forward-looking. These statements are not guarantees of our future performance and are subject to risks, uncertainties, and other important factors that could cause our actual performance or achievements to be materially different from those we project. For a full discussion of these risks, uncertainties, and factors, we encourage you to read our documents on file with the Securities and Exchange Commission, including those set forth in our periodic reports under the forward-looking statements and risk factors sections. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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SOURCE GP Strategies