The HR tech market is booming at the moment. Mergers and acquisitions (M&As) are ongoing despite economic challenges – just look at Zoom’s purchase of Workvivo and HireVue’s acquisition of Modern Hire.
One segment of HR that is doing especially well is EdTech. And this is also playing out in M&A. This makes sense as companies are increasingly seeing reskilling and upskilling as a necessity in a tight labor market, according to analysis by McKinsey.
Hot on the heels of GO1 buying Blinkist, European EdTech giant Lepaya has announced its purchase of Krauthammer, a leadership-focused training provider.
Financial terms have not been disclosed, but this acquisition has transformed Lepaya into Europe’s largest EdTech company.
This Krauthammer deal is Lepaya’s fourth acquisition in the five years since it was founded – and it comes just six months after it bought London-based SpeakFirst.
Now, Lepaya has over 400 employees across Europe and China, and is working with more than 1000 clients – notable examples include ING, Microsoft, Dell and Maersk.
The combined power of Lepaya and Krauthammer
Lepaya’s platform enables employees to learn in the flow of work, and embraces the latest AI and VR technologies to provide an engaging learning experience.
When this is combined with Krauthammer’s deep learning expertise, the pair believe it will create an advanced learning platform that will demonstrate the tangible value of learning to leaders and businesses.
Talking about the deal, Lepaya co-CEO René Janssen commented: “The acquisition of Krauthammer is a major step forward for Lepaya – making Lepaya the leading capability platform that boosts productivity and retention of workforces of the world’s largest organizations,”
“In just our fifth year of existence, we will touch the lives of more than 250,000 employees, while aiming to eventually help the full global workforce of 3.3 billion.”
Krauthammer’s CEO Frans van Kreuningen added: “By combining Krauthammer’s long-standing training quality, in combination with delivering it at scale with Lepaya’s platform and the AI and VR-powered technology, we will be able to upskill and transform companies at every level of the organization.”
Writing on LinkedIn, Peter Kuperus, Lepaya’s other co-CEO, shared:
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