Publisher John Wiley & Sons, Inc. has signed a definitive agreement to acquire CrossKnowledge, a learning solutions provider focused on leadership and managerial skills development, for $175 million in cash. The transaction is expected to close on May 1.
CrossKnowledge is a privately-held company based in France with over 200 employees. It offers subscription-based, digital learning solutions for multi-national corporations, universities, and small and medium-sized enterprises. CrossKnowledge solutions, which include managerial and leadership skills assessment, courses, certifications, content, and executive training programs, are delivered on a cloud-based platform providing over 17,000 learning objects in 17 languages. Solutions can be readily customised for each individual client, providing employees with access to relevant learning and development resources in a tailored online experience. CrossKnowledge generated $37 million of revenue in its fiscal year ending June 30, 2013.
Wiley management will provide further details and address questions during a conference call scheduled for May 8, 2014 at 2:00 pm EDT.
Interested parties may access the webcast at www.wiley.com> Investor Relations> Events and Presentations, or http://www.wiley.com/WileyCDA/Section/id-370238.html.
U.S. callers, may dial (888) 417-8465 and enter the participant code 9593011#
International callers, may dial (719) 325-2393 and enter the participant code 9593011#
An archive of the webcast will be available for a period of up to 14 days.
