Cengage Group, a global education technology company serving millions of learners, has entered into an agreement to acquire Infosec, a leading cybersecurity education provider, for $190.8 million (£146M).
With this acquisition, Cengage Group will expand into the cybersecurity professional training market and meaningfully increase the size of its rapidly growing Workforce Skills business. The transaction is expected to close in the first calendar quarter of 2022, subject to the satisfaction of customary closing conditions and regulatory approvals.
As a part of the deal, Infosec will join Cengage Group’s ed2go business as part of its Workforce Skills business, and Cengage will retain and invest in Infosec employees and products to support future growth.
Cengage Group enables the power and joy of learning with trusted, engaging content, and now, integrated digital platforms. It serves the higher education, workforce skills, secondary education, English language teaching and research markets worldwide. Through its scalable technology, including MindTap and Cengage Unlimited, the platform supports all learners who seek to improve their lives and achieve their dreams through education.
Speaking about the company, CEO of Cengage Group, Michael E. Hansen, 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.”
Hansen further added, “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.”
Founded in 2004 by Jack Koziol, 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.
Since its inception, Infosec has already trained more than 100,000 cybersecurity professionals, and helped more than 5 million learners with training to improve cybersecurity knowledge and safety at home and work.
Commenting on the acquisition, Founder and CEO of Infosec, Jack Koziol, said, “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”, Koizol said.
The startup claims that 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.
Through its partnerships with hundreds of community colleges and universities, Cengage Group provides post-secondary and online continuing education courses to give students the opportunity to upskill and reskill.
Cengage Group plans to harness its expertise and scale to expand the reach of Infosec’s highly-rated products and services to train learners in the US and globally. Through Infosec Skills, cybersecurity professionals have access to more than 1,400 hands-on cybersecurity courses, and the option to upgrade to boot camp style, instructor-led training to prepare for certifications. With Infosec’s IQ product, enterprise companies will continue to benefit from thousands of resources for training employees about cyber threats, phishing scams and cyber safety.