AFRICAN LEADERSHIP INTERNATIONAL ENTERS INTO AGREEMENT TO ACQUIRE SILICON VALLEY'S HOLBERTON INC. TO BRIDGE GLOBAL SOFTWARE ENGINEERING SKILLS GAP
PORT LOUIS, Mauritius, July 13, 2022 /PRNewswire/ -- African Leadership International (ALI), which aims to transform Africa by developing three million entrepreneurial leaders by 2035, has entered into an agreement to acquire Holberton Inc., a Silicon Valley-founded, project-based, college alternative educating the next generation of software engineers. The acquisition will give ALI ownership of the advanced technology program that will enable ALI to provide global organizations access to a significant untapped workforce capable of bridging the growing global shortage of technology talent. It will also change the lives of millions of Africans by equipping them with the software engineering skills essential for the future digital workplace. The acquisition is expected to be completed in the third quarter. As part of the transaction, the Holberton School network will be separated into an independent organization.
According to the World Economic Forum, the pandemic has accelerated the pace of digital disruption in almost all industries, and 97 million new roles will emerge that are more adapted to the new division of labor between humans, machines and algorithms. With its aging populations, China, India, and the West – traditional sources of technology talent – are experiencing shortages to meet this new demand.
Africa is experiencing rapid population growth. It has the youngest workforce in the world, with an average age of 19 years, compared to 48 years in Germany or Japan. The continent is expected to have a workforce of 1.1 billion by 2035 – larger than China or India's. As a result, global technology companies are increasingly seeing the continent as the next frontier for technology talent. Over the past three years, Twitter, Google, Microsoft, IBM, Alibaba among others, have all announced plans to open tech hubs in Africa.
These trends spurred ALI to partner with Holberton's advanced technology program two years ago to rapidly scale up the training of software engineers on the African continent. Over the past year, more than 95 000 students have enrolled in African Leadership International's ALX skills acceleration program, scaling over 2 000 times in the last 15 months.
Through The ROOM, the placement division of African Leadership International, this world-class talent will then be matched and connected to global corporations seeking to build their technology teams, similar to how technology companies today go to locations in Eastern Europe and India to find talent.
With this acquisition, ALI expects to position itself as a leading source of technology talent on the African continent, and one of the largest in the world. Holberton's technology has proven that it will play a crucial role in the ALI ecosystem. Students trained using Holberton's technology have been hired by companies like Apple, Google, Tesla, LinkedIn, Dropbox, Pinterest, Rappi, and Nvidia.
With the combination of the ALX program, Holberton's technology and The ROOM career placement, ALI seeks to put forward a world-class service that will solidify Africa's place as the final frontier for technology, while providing a lasting solution to the global technology talent shortage.
Quotes
"Through our combined efforts to date, we have been able to deliver high quality learning experiences to young Africans at massive scale. This is unlike anything I have experienced in my 20 years of human capital development on the continent. With our current trajectory, I am confident that in the next decade we will develop millions of African digital leaders who can solve many of Africa's greatest challenges. Our ambition is to become the largest single source of technology talent for the world," said Fred Swaniker, Founder and CEO of African Leadership International.
"This acquisition will help address the global shortage of technology skills by combining our respective strengths with African talent paving the way. This collaborative, project-based environment makes every student workforce ready after graduating. Our software engineers will empower organizations around the world to rapidly scale their technology talent requirements," said Julien Barbier, Co-Founder of Holberton.
About African Leadership International
By 2035, Africa will have the largest workforce in the world and will need to catalyze transformation by empowering its largest untapped resource - its people. Fueled by this challenge, the African Leadership International is part of the African Leadership Group (ALG) ecosystem of institutions with a shared vision to harness Africa's abundant human capital by selecting, developing, and connecting 3 million ethical and entrepreneurial leaders from the continent by 2035. The initiative was founded in 2004 by Fred Swaniker, a serial entrepreneur recognized by Time Magazine in 2019 as one of the 100 most influential people in the world. Also in 2019, Fast Company named ALG's African Leadership University as the most innovative company in Africa and as one of the 'top 50 most innovative companies in the world for "remaking education for a new era".
East Wind Advisors, Winston & Strawn LLP, and Mazars provided financial, legal and accounting advice to ALI, respectively.
More about Holberton
Founded in Silicon Valley in 2015, Holberton's innovative and flexible delivery of the "OS of Education" provides a unique portfolio of tools, auto-graded tailored curricula, and teaching methods to help its customers — education institutions, universities, corporations, governments and Holberton School franchisees — train the next generation of digital talent at scale.
Lowenstein Sandler LLP advised Holberton, Inc. for this transaction.
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SOURCE African Leadership Group; Holberton
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