Wiley buys CrossKnowledge

John Wiley & Sons is to buy distance learning training company CrossKnowledge for the sum of $175m in cash. The transaction is expected to close on 1st May.

France-based CrossKnowledge is a privately owned company with over 200 employees, offering cloud-based distance learning for multinational corporations, universities and small and medium-sized enterprises. Programmes include managerial and leadership skills assessment, courses, certifications and training. The company says it has five million end-users in over 80 countries.

Wiley president and c.e.o. Steve Smith said organisations were moving from face-to-face training to e-learning solutions. "The addition of CrossKnowledge to our talent management portfolio…positions us as a leader in the rapidly-growing area of enterprise talent management," he said.

Mark Allin, Wiley's senior vice president for Professional Development, said the acquisition "accelerates our strategy to provide customers with a suite of services fro education through employment, enabling individuals to fulfil their career ambitions and corporations to maximise their talent."