Cengage Group to Add Cybersecurity Education Company to Workforce Training Portfolio
Cengage Group has entered into an agreement to acquire cybersecurity education and training provider Infosec for $190.8 million. The acquisition will substantially increase the size of the company's ed2go workforce skills business and expand its reach into the cybersecurity professional training market, according to a news announcement.
"The cybersecurity industry is at a critical inflection point where the skilled labor shortage could have far-reaching and lasting effects on business and personal safety. At the same time, it provides an opportunity for un- or under-employed workers who can upskill or reskill for career advancement. With our scale and resources, more cybersecurity professionals will have access to an affordable and faster option to develop the skills they need," said Michael E. Hansen, CEO of Cengage Group, in a statement. "The online, employer-paid cybersecurity training segment is currently a $1 billion market, with expectations that it will grow to $10 billion annually by 2027. Combining Infosec with our already-successful Workforce Skills business will provide top-line growth, expand our base of recurring revenue and accelerate our opportunity within the space."
Cengage Group said it will "retain and invest in Infosec employees and products to support future growth."
"Infosec was built by talented employees who truly believe that knowledge is power and care deeply about creating training materials that help cybersecurity professionals advance in their careers and keep employers and staff aware of cybersecurity threats at home and at work. Cengage Group has the same level of passion for making learning accessible, affordable and applicable to today's cybersecurity professionals," commented Jack Koziol, CEO and founder of Infosec. "Building on ed2go's history in online training, Infosec will benefit from Cengage Group's scale and expertise, which means we can reach more cybersecurity professionals and employers that are looking to not only grow their careers but to keep businesses, governments and people safe from cyber threats."
The transaction is expected to close in Q1 2022.
About the Author
Rhea Kelly is editor in chief for Campus Technology, THE Journal, and Spaces4Learning. She can be reached at [email protected].