TORONTO, Aug. 12 /CNW/ - Nexient Learning Inc. announced today it has
entered into an agreement through which Global Knowledge will purchase certain
assets and operations of Nexient Learning, subject to court approval. This
completes the marketing and sale process Nexient initiated on June 26 with the
filing of CCAA protection and enables Nexient's business to continue without
disruption. Financial terms of the transaction were not disclosed.
"Nexient is delighted to join forces with Global Knowledge to offer our
clients an expanded learning portfolio and to deliver our learning products in
the international marketplace. Global Knowledge's international reputation as
a leader in the training industry as well as their management and financial
strength will provide the needed support to secure our position as market
leader in Canada," said Nexient's President and Chief Executive Officer, Donna
de Winter. "We look forward to becoming a part of the Global Knowledge team."
"We view the Canadian training marketplace as having significant growth
potential and the chance to acquire Nexient's operations presented a rare
opportunity to expand in this important market," Brian Branson, CEO and
President of Global Knowledge said. "We are excited to let the customers of
both companies know that they will not only experience the same great service
they've been receiving from Nexient and Global Knowledge, but that our
combined learning portfolios of technical and soft skills will address an even
wider array of their talent management needs."
The business will continue to operate under the Nexient brand for an
About Nexient Learning Inc.
Nexient Learning Inc. is the largest corporate training and talent
development company in Canada. Nexient delivers the broadest choice of top
calibre, industry-recognized curricula in information technology, business
process improvement and leadership business solutions. With 12 locations
across Canada, Nexient offers innovative learning solutions in both classroom
and online formats. Nexient is traded on the NEX as "NXL.H". More information
is available on the company's website at www.nexientlearning.com.
About Global Knowledge
Global Knowledge is the worldwide leader in IT and business training.
Global Knowledge delivers via training centers, private facilities, and the
Internet, enabling its customers to choose when, where, and how they want to
receive training programs and learning services. The company's more than 700
courses span foundational and specialized training and certifications. Founded
in 1995, Global Knowledge employs more than 1,200 people worldwide and is
headquartered in Cary, N.C. The company is owned by New York-based investment
firm Welsh, Carson, Anderson, and Stowe. More information is available on the
company's website www.globalknowledge.com.
Forward Looking Statements
This press release contains forward-looking statements. Forward-looking
statements involve known and unknown risks, uncertainties and other factors
including economic conditions which may cause the actual results, performance
or achievements of Nexient to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking
statements. Actual results could differ materially from those projected and
should not be relied upon as a prediction of future events. By its nature,
this information is subject to inherent risks and uncertainties that may be
general or specific, including without limitation obtaining court or other
necessary approvals. A variety of material factors, many of which are beyond
Nexient's control, affect the operations, performance and results of Nexient,
and could cause actual results to differ materially from current expectations
of estimated or anticipated events or results. The Company specifically
disclaims any obligation to update these forward-looking statements, except as
required by applicable securities laws. There can be no assurance that
forward-looking statements will prove to be accurate and readers should not
place undue reliance on forward-looking statements.
For further information:
For further information: Douglas Lawson, Chief Financial Officer,
Nexient Learning Inc., (416) 964-8688 ext. 2200, email@example.com