Pearson announced Monday that it had acquired Credly, the market leader in digital workforce credentialing. Pearson, which already had a nearly 20 percent stake in Credly, said the acquisition will expand its presence in the workforce skills sector and add a strong credentialing service to its existing workforce analysis and learning portfolio.
The purchase price for Credly, including Pearson’s existing stake, was $200 million.
“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,” Andy Bird, the chief executive of Pearson, said in a press release. “The growing skills gap is putting enormous pressure on the labor market, making verified credentials more essential than ever before.”
Bird said Pearson originally invested in Credly in 2018. He said he believes Credly complements Pearson’s recent acquisition of Faethm, which the company acquired to better work with employers and employees to identify skills needs and provide learning to address those needs along with credentials to prove proficiency.
Pearson said Credly’s user-friendly platform awards employees and workers trusted digital credentials to prove their skills and allow them to connect with the right opportunities. More than 2,000 organizations use Credly, according to a Pearson press release. Credly has issued 50 million credentials to 25 million consumers and has become the world’s largest professional credentialing marketplace.