Virtual College, one of the UK’s earliest online learning providers, has reached an agreement to be acquired by Spanish e-learning specialist, Netex.
The West Yorkshire-based company specialises in providing e-learning workplace training, helping around 4.7 million learners since its foundation in 1995, and looks set to retain its identity as the Netex Group bids to extend its global reach.
“During the last few months, we have studied more than 30 deals, until we found the right one for Netex at this time,” said Alejandro Faginas, Netex CFO.
“The integration of Virtual College is an immediate accelerator in our penetration of the English-speaking market, both in the UK and the US.”
Headquartered in Coruña, Netex has offices in London, New York, Barcelona, Madrid and Mexico City.
The company claims that acquiring Virtual College will lead to a turnover of around £17 million in the coming year, as well as allow it to offer hundreds of new professional training courses.
The move will expand the group’s product portfolio in a wide number of other areas, including LXP and LMS technology, cloud authoring tool technology, talent management technology, ready-to-go content, and consultancy expertise.
“The combination of the Virtual College and Netex businesses creates a huge opportunity to work together to build on the vast skills, knowledge and experience that both businesses have developed over the last 25 years,” said Virtual College co-founders, Rod Knox and Bob Gomersall.
“This combined provision creates a leading-edge e-learning solution that will enhance the offer within existing markets and opens significant new opportunities to expand internationally.”
Netex CEO, Carlos Ezquerro, said that “the addition of Virtual College to the Netex structure is a very important step for the company in its plans for development, international expansion and the search for leadership in the e-learning sector at an international level.
“We welcome the entire Virtual College team, who will be crucial in achieving our new collective vision and goals.”