The global education and technology company Cengage Group is acquiring Infosec, a top cybersecurity education provider, for $190.8 million. Officials said the transaction is expected to close in the first quarter of 2022.
Cengage Group partners with hundreds of community colleges and universities providing postsecondary and continuing education online courses, including via ed2go, its adult online learning platform.
Officials said the acquisition will significantly expand the Cengage Group’s workforce skills business into the cybersecurity professional training market. Infosec has trained more than 100,000 cybersecurity professionals since 2004 and trained more than five million learners in cybersecurity safety via more than 1,400 hands-on courses, a Cengage Group press release said.
Employer-sponsored online training for cybersecurity is currently a $1 billion sector and is projected to reach $10 billion annually by 2027, Cengage officials 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,” Michael E. Hansen, CEO of Cengage Group, said in a press release. “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.”