Education company Pearson has snapped up identity verification site Credly as it expands into the workplace skills market.
In an announcement today Pearson, which already has a 20 per cent stake in Credly, said that it would purchase the company for a total value of $200m (£149m), providing an upfront consideration of $140m. Credly’s identity verification service will help Pearson prove the proficiency of its learners to employers.
Andy Bird, chief executive of Pearson, said: “The Credly acquisition is another important step in accelerating our strategy in the workforce skills market and in building connectivity across the entire Pearson portfolio. The growing skills gap is putting enormous pressure on the labour market, making verified credentials more essential than ever before.”
Today’s purchase comes amid a string of acquisitions at the education company. Pearson said its acquisition of Credly complements the recent purchase of Faethm, an AI powered company that helps companies and learners to prepare for automation.
Pearson will therefore be positioned to help employers and employees to identify skills needs, provide learning to address those needs and offer credentialing to prove proficiency.
Credly, which already provides credentials for 25m people, saw revenue growth of 47 per cent to $13.3m in 2021. Pearson’s shares are up 0.43 per cent today.