Pearson to Acquire Workforce Assessment Provider, PDRI
Acquisition to significantly expand Pearson's services to
Founded in 1975, PDRI has built a strong reputation for delivering quality talent assessments, including tailored assessments to support hiring practices for
PDRI will join Pearson's Assessment & Qualifications division. Within this division, Pearson and PDRI already have an established, strong working relationship, partnering to deliver assessments to federal jobseekers at Pearson VUE test centers. This acquisition unlocks synergies between Pearson and PDRI, whilst bringing new capabilities for Pearson to explore as the company grows its long-standing enterprise learning presence.
The consideration for PDRI represents an enterprise value of
Completion of the acquisition is expected to occur during H1 2023 subject to regular closing conditions, including any required regulatory filings or approvals.
Andy Bird, Chief Executive of Pearson, said: "We are pleased to have the opportunity to expand this important market for Pearson and our assessments business. Pearson and PDRI share a culture and commitment of serving trusted, secure, and innovative assessment solutions to major employers and millions of people looking to establish and grow their careers. Together, we will have a stronger proposition and a larger platform from which to drive future growth."
Elaine Pulakos, Chief Executive Officer of PDRI said: "Pearson has an excellent reputation in the assessments field, and we are excited to become a part of their growth strategy. There is a significant opportunity to learn from each other to further improve our products and reach more customers with our proven assessment and talent solutions."
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Contacts:
Investor Relations Jo Russell +44 (0) 7785 451 266 / James Caddy +44 (0) 7825 948 218 / Gemma Terry +44 (0) 7841 363 216
Teneo Charlie Armitstead +44 (0) 7703 330 269
Forward looking statements:
Except for the historical information contained herein, the matters discussed in this statement include forward-looking statements. In particular, all statements that express forecasts, expectations and projections with respect to future matters, including trends in results of operations, margins, growth rates, overall market trends, the impact of interest or exchange rates, the availability of financing, anticipated cost savings and synergies and the execution of Pearson's strategy, are forward-looking statements. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will occur in future. They are based on numerous assumptions regarding Pearson's present and future business strategies and the environment in which it will operate in the future. There are a number of factors which could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, including a number of factors outside Pearson's control. These include international, national and local conditions, as well as competition. They also include other risks detailed from time to time in Pearson's publicly-filed documents and you are advised to read, in particular, the risk factors set out in Pearson's latest annual report and accounts, which can be found on its website (www.pearsonplc.com). Any forward-looking statements speak only as of the date they are made, and Pearson gives no undertaking to update forward-looking statements to reflect any changes in its expectations with regard thereto or any changes to events, conditions or circumstances on which any such statement is based. Readers are cautioned not to place undue reliance on such forward-looking statements.
About Pearson
At Pearson, our purpose is simple: to add life to a lifetime of learning. We believe that every learning opportunity is a chance for a personal breakthrough. That's why our c.20,000 Pearson employees are committed to creating vibrant and enriching learning experiences designed for real-life impact. We are the world's leading learning company, serving customers in c.200 countries with digital content, assessments, qualifications, and data. For us, learning isn't just what we do. It's who we are. Visit us at pearsonplc.com
About PDRI
Since 1975, PDRI has built a global reputation of excellence by designing, developing and implementing high-quality, innovative talent management solutions that adhere to the highest principles of professional practice. PDRI's suite of integrated talent management solutions helps government and commercial clients hire, train, develop, manage and motivate high-performance organizations. For more information visit www.pdri.com.