Addition of Cybersecurity Training Provider Helps Cengage Group’s Workforce Skills Business Scale Across New Channels
BOSTON, MA & MADISON, WI – March 1, 2022 – Global education technology company Cengage Group has completed its previously announced acquisition of Infosec, a leading provider of cybersecurity education and training, for $191 million. Infosec joins ed2go as part of Cengage Group’s Workforce Skills business.
“Infosec is a perfect addition to the Cengage Group portfolio,” said Michael E. Hansen, CEO of Cengage Group. “As demand for workforce skills training explodes, together we’ll be better positioned to deliver quality online learning for cybersecurity and other growing fields wherever students need – through academic institutions, employers or direct to consumer. With our ability to scale training across channels, we will help millions of learners gain the skills needed to move up in their careers and help close the cybersecurity skills gap.”
“We’re thrilled to join our colleagues at Cengage Group who share the same belief in the power and joy of learning and the ability to close the cyber skills gap through education,” said Jack Koziol, Senior Vice President, General Manager and Founder of Infosec. “Benefitting from Cengage Group’s global network, we will reach more cybersecurity professionals looking to grow their careers, while helping to keep businesses, governments and people safe from cyber threats.”
Through its partnerships with hundreds of community colleges and universities, Cengage Group’s Workforce Skills business provides online training and education so learners can gain the skills needed to be job ready or advance in their careers. As Cengage Group invests in its Workforce Skills business, which has grown rapidly since the pandemic began, the addition of Infosec will expand the company’s reach in the employer training market.
The need for skilled and knowledgeable cybersecurity professionals is massive. Today, there are nearly 3.5 million open cybersecurity jobs globally. In the U.S. there are nearly 600,000 open cybersecurity jobs, of which more than half require at least one certification.
Since its founding in 2004, Infosec has trained more than 100,000 cybersecurity professionals through Infosec Skills courses, and helped more than 5 million learners improve cybersecurity knowledge and safety at work and home with Infosec IQ training. With Infosec Skills, cybersecurity and IT professionals have access to 1,400+ hands-on cybersecurity resources, with the option to upgrade to boot camp style, instructor-led training to prepare for certifications. With Infosec IQ, organizations will continue to benefit from thousands of security awareness resources for training employees about cyber threats, phishing scams and cyber safety.
For more information about Cengage Group’s Workforce Skills business visit: www.cengagegroup.com/about/our-brands.
Infosec is a leading cybersecurity education company helping IT and security professionals advance their careers and empowering employees to be cyber-safe at work and home. Its mission is to equip individuals and organizations with the knowledge and skills to confidently outsmart cybercrime. More than 70% of the Fortune 500 have relied on Infosec Skills to develop their security talent and teams, and more than 5 million learners worldwide are more cyber-resilient from Infosec IQ’s security awareness and phishing training. Follow Infosec on LinkedIn, Twitter, Facebook, Instagram and Infosec’s Resources Blog for the latest news, or visit www.infosecinstitute.com for more information.
About Cengage Group
Cengage Group, a global education technology company serving millions of learners, provides affordable, quality digital products and services that equip students with the skills and competencies needed to be job ready. For more than 100 years, we have enabled the power and joy of learning with trusted, engaging content, and now, integrated digital platforms. We serve the higher education, workforce skills, secondary education, English language teaching and research markets worldwide. Through our scalable technology, including MindTap and Cengage Unlimited, we support all learners who seek to improve their lives and achieve their dreams through education. Visit us at www.cengagegroup.com or find us on LinkedIn or Twitter.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The reader is cautioned not to rely on these forward-looking statements which are based on current expectations of future events. Forward-looking statements include those regarding our expectations for the acquisition and the combined business, the workplace training market and our position and potential expansion in the market, and include words such as will and expected, and similar words. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from our expectations. Risks and uncertainties include, but are not limited to, those related to (a) the possibility that we may be unable to achieve expected synergies and operating efficiencies in connection with the transaction within the expected timeframes or at all and to successfully integrate Infosec, (b) operating costs, customer loss and business disruption (including, without limitation, difficulties in maintaining relationships with employees, customers, clients or suppliers) being greater than expected, (c) our ability to retain key executives and employees, (d) slowdowns or downturns in economic conditions generally and in the markets in which the acquired business participates, (e) the integration of the acquired business being more difficult, time-consuming or costly than expected, and (f) potential unknown liabilities and unforeseen expenses related to the acquisition.
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