COLUMBIA, Md., Oct. 15, 2021 /PRNewswire/ -- Learning Technologies Group plc (LTG) is pleased to announce the successful completion of the acquisition of GP Strategies.
The addition of GP Strategies 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 (such as pharma, aerospace and automotive) and capabilities (such as leadership development and technical training).
The combined business will generate revenue of c.£500 million and provide LTG with an enhanced global footprint, with over 5,000 employees in more than 30 countries.
Jonathan Satchell, Chief Executive of LTG, said: "The acquisition of GP Strategies represents a transformational leap for our business. It creates a combination of award-winning technology, leading talent development skills and a global delivery capability. As an enlarged business, we will be well placed to enable a broadened array of corporate clients to recruit, train, motivate and retain their people in a world of increasing complexity and a rapidly changing relationship between talent and the workplace."
Adam Stedham, President of GP Strategies, said: "I am highly confident this merger represents the ideal outcome for GP Strategies' shareholders, employees and customers. The combination of two leading talent development firms not only expands our reach and breadth of capabilities but also positions us to be the world's leading workforce transformation partner focused on learning and talent."
Commenting on the Group's plans for the enhanced offering, Piers Lea, Chief Strategy Officer of LTG said; "We will now work towards bringing the combination of GP Strategies and LTG to our customers. We have begun the enticing task of combining the excellent capabilities from both organisations, providing a unique scale of skills and technologies to help our customers remain competitive today and in the coming decades."
The transaction is financed by an £85 million share placing and $305 million of debt financing, both completed in mid-July.
About LTG: LTG is a leader in the growing workplace digital learning and talent management market. The Group offers end-to-end learning and talent solutions ranging from strategic consultancy, through a range of content and platform solutions to analytical insights that enable corporate and government clients to close the gap between current and future workforce capability.
LTG is listed on the London Stock Exchange's Alternative Investment Market (LTG.L) and is headquartered in London. The Group is present in over 30 countries.