Pearson Acquires Workforce Assessment Provider PDRI For $190M

Author: Shivani Kumaresan | December 19, 2022 10:16am

• Pearson, Plc (NYSE:PSO) has signed an agreement with SHL Group to acquire Personnel Decisions Research Institutes LLC (PDRI). The consideration for PDRI represents an enterprise value of $190 million.
• PDRI provides workforce assessment services with a client base that includes the U.S. federal government.
• Pearson expects the acquisition to expand its services to U.S. federal agencies, including through PDRI's partnership with the Office of Personnel Management to deliver the USA Hire platform.
• The USA Hire platform serves more than 40 agencies and is utilized to assess more than 500,000 applicants annually. 
• PDRI will join Pearson's Assessment & Qualifications division.
• "We are pleased to have the opportunity to expand this important market for Pearson and our assessments business,” said CEO Andy Bird.
• Pearson expects to fund the deal with its existing cash and available liquidity. The deal is expected to be completed during 1H 2023.
• Price Action: PSO shares closed lower by 0.36% at $11.08 on Friday.
• Photo Via Company

Posted In: PSO