Cengage Group is acquiring cybersecurity education and training provider Infosec for $190.8 million, the companies disclosed today. The deal, focused on closing the cybersecurity skills gap, is expected to close in the first quarter of 2022. A valuation based on EBITDA multiple was not disclosed.
Cengage Group partners with hundreds of community colleges and universities to provide post-secondary and online continuing education courses that drive upskill and reskill opportunities.
By contrast, Infosec has trained more than 100,000 cybersecurity professionals, and helped more than 5 million learners since the business launched in 2004, Infosec indicated. The Infosec Skills platform offers access to 1,400+ hands-on cybersecurity courses, and the option to upgrade to boot camp style, instructor-led training to prepare for certifications, the seller noted.
Cengage Acquires InfoSec: Executive Perspectives
In a prepared statement about the deal, Michael E. Hansen, CEO of Cengage Group, said:
“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. 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.”
Added Jack Koziol, CEO and founder of Infosec:
“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. 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.”
DC Advisory, an international investment bank, acted as exclusive financial adviser to Infosec.