John Wiley & Sons, Inc., a global leader in research and education, has signed a definitive agreement to acquire Learning House, an education services provider, from Weld North Holdings. Under the terms of the agreement, Learning House shareholders will receive $200 million in cash. The transaction is expected to close on or around November 1, 2018, subject to customary closing and regulatory conditions.
Learning House, headquartered in Louisville, provides online program management (OPM) services for colleges and universities, including graduate and undergraduate programs; short courses, bootcamps, and other skills training and credentialing for students and professionals; pathway services for international students; professional development services for teachers; and learning solutions for corporate clients. Revenue for fiscal year 2018 (ending December 31) is forecast to be approximately $70 million, up 17 percent from the prior year.
Learning House and Wiley's existing Education Services business will combine to create a software and services leader in the $2.3 billion OPM market, with approximately $200 million in combined annual revenue, over 60 university partners ranging from national to regional, over 800 online graduate and undergraduate degree programs across disciplines, and targeted institutional services such as student recruitment and enrolment. Learning House will further extend Wiley's reach into more than $10 billion education services space, with short courses, bootcamps, and training services in critical areas like software development and teaching, and a job matching network of more than 450 employers.
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