ETS Expands Focus on Workforce Skills Sector with the Acquisition of PSI
Together they become the global leader in measuring human progress from education to workplace
PRINCETON, N.J. and OLATHE, Kan., Jan. 29, 2024 /CNW/ -- In a deal that closed January 25, 2024, ETS acquired PSI. This partnership brings together the long-standing expertise of ETS, the world's largest private educational measurement organization, with PSI's global leadership in test development and delivery across workforce certification and licensure. As employers and governments around the world face the critical need to upskill their people for the future of work, ETS and PSI are joining forces to create a robust end-to-end suite of products and services leveraging unparalleled measurement science and proven expertise in workforce skills testing and development.
The creation of this unique proposition represents an unprecedented disruption in the assessment space. These two organizations are poised to drive the progress of educational and workforce skills assessment by harnessing cutting-edge technology and unmatched research and development capabilities. Together, ETS and PSI stand ready to reshape and enhance the evaluation of human capabilities on a global scale.
"This is an important milestone for ETS as we forge ahead into the workforce development space to become the trusted source to measure, certify and license skills and demonstrate progress," said Amit Sevak, CEO of ETS. "I am proud to welcome Janet Garcia and the entire PSI team to ETS as we work together to power human progress using the most advanced measurement science and technology."
ETS's pioneering research, development and administration of assessments and PSI's extensive presence in credentialing creates a powerful platform to enhance opportunities for advancement across an individual's entire educational and employment lifecycle. With aligned missions to provide equitable access to quality learning, testing, education, and career development opportunities, ETS and PSI's customers stand to benefit from a shared goal to establish more internationally recognized credentials to facilitate the mobility of skilled learners and workers across borders. This enables individuals to showcase their skills and demonstrate the value of their credentials to the world.
"PSI is thrilled to be joining forces with ETS and believes the fit and potential between the organizations is hugely exciting for our employees, customers, and partners. I am grateful for the incredibly warm welcome Amit Sevak and his team have given us," said Janet Garcia, CEO of PSI. "As two of the world's leading measurement experts in design and delivery, this partnership offers clients and test takers an unrivaled set of capabilities and a combined strength and stability to positively impact millions of individuals throughout their learning and career journeys."
Committed to serving people on every path to success, together ETS and PSI deliver nearly 50 million tests annually across more than 200 countries and territories around the world. Moving forward customers of both organizations can expect new and unique opportunities to meet their needs in validating and upskilling people for the future of work.
PSI, formerly a subsidiary of Lifelong Learner Holdings (LLH), was acquired in a deal supported by several partners. Jones Day acted as legal advisor to ETS. Macquarie Capital acted as financial advisor and Kirkland & Ellis LLP as legal advisor to LLH, PSI and Waud Capital.
About ETS
We believe in the life-changing power of learning. For the last 75 years, we've been driven by a vision of what's possible when all people can improve their lives through education. It's why our uncompromising commitment to equity and fairness is behind everything we do. ETS serves learners, educators and government agencies by providing measurement solutions, and conducting research, analysis and policy studies. ETS develops, administers and scores tens of millions of tests annually — including the TOEFL® and TOEIC® tests, the GRE® tests and The Praxis Series® — in more than 200 countries and territories, at over 9,000 locations worldwide. www.ets.org
About PSI
We partner with clients in a rapidly evolving landscape to deliver over 22 million tests every year. All backed by exceptional test taker experiences, innovative test delivery solutions, and best practice test development.
PSI's long history of testing is grounded in proven science, the latest technology and extensive operational expertise. Our unwavering focus is on delivering frictionless and fair test taker experiences, without compromising test integrity. Whether it's through valid test content, authorized test centers, secure remote testing with online proctoring, multi-modal test delivery, testing windows or continuous testing on-demand.
We partner with certification test sponsors covering the breadth of professional specialisms from healthcare, architecture, finance and IT to numerous highly specialized sectors. And we develop and deliver licensure tests across multiple industries including insurance, real estate, barber and cosmetology, construction, and trades.
Learn more at www.psiexams.com.
SOURCE ETS
ETS: Kristen Mitchell, [email protected]; PSI: Alistair Fryer-Bovill, [email protected]
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