Global education and research company John Wiley & Sons expects to close on the purchase of Louisville-based education services provider Learning House on or near Nov. 1, the company announced Tuesday morning.
Per the agreement, Learning House shareholders will receive $200 million in cash, the news release states.
“Learning House is a dynamic growth company,” Brian Napack, president and chief executive of Wiley, said in the release. “The addition of Learning House to Wiley’s portfolio of tech-enabled education services positions us as a clear leader in the rapidly growing market for services that help institutions, corporations, professionals and students to achieve their goals.
“Learning House will enable us to partner even more broadly with institutions and employers to give students a high-quality education, prepare them for the right job, and upskill and reskill them throughout their careers.”
The Louisville company was founded by a University of Louisville professor in 2001 and employs more than 400 people. It provides a number of services including online course management for higher education institutes, in-demand skills training and professional development services for teachers.
“We’re deeply honored to join Wiley, one of the most respected and forward-looking education companies in the world,” Todd Zipper, president and chief executive of Learning House, said in the release. “Our university partners rely on us to thrive in highly-competitive enrollment environments, with pressing demands for outcomes, sophisticated learning tools and efficiencies. Learning House as a part of Wiley is an incredible next step for us in our evolution.”
Learning House, which is currently owned by Weld North Holdings, is anticipated to earn about $70 million in revenue this year, an increase of 17 percent compared to the prior year. Together with Wiley’s education services business, the combined companies are expected to have a revenue of roughly $200 million and more than 60 university partners, according to the release.
Insider reached out to company officials for additional comment but did not immediately hear back.