Hoboken-based Pearson has acquired Credly, a leader in digital workforce credentialing, in a deal that represents a total value of $200 million, according to a Jan. 31 announcement.
The acquisition of New York-based Credly, in which Pearson already owns nearly 20%, will expand the company’s presence in the workforce skills sector, adding a credentialing service to its workforce analysis, learning and assessment capabilities, the announcement stated.
“The Credly acquisition is another important step in accelerating our strategy in the workforce skills market and in building connectivity across the entire Pearson portfolio,” Andy Bird, chief executive officer of Pearson, said in a prepared statement. “The growing skills gap is putting enormous pressure on the labor market, making verified credentials more essential than ever before.”
Bird continued, “We originally invested in Credly in 2018 because we recognized its potential and have been impressed with the strong management team and their deep understanding of the talent market. Credly complements our other recent acquisition — Faethm — to address the full learner journey, enabling us to work with employers and employees to identify skills needs, provide learning to address those needs and offer trusted credentialing to prove proficiency.”
Pearson is a learning company that provides digital content and learning experiences, as well as assessments and qualifications, for its customers. Credly offers a platform for organizations to award employees and workers digital credentials that verify their skills.
“This exciting move combines Credly’s expertise in the skills economy with the global scale, learning expertise and financial strength of Pearson,” Jonathan Finkelstein, founder and CEO of Credly, added in the statement.
The full Credly team, including Finkelstein, will join Pearson, the announcement stated.
Pearson was advised by K&L Gates, and Credly was advised by AGC Partners and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian.