Pearson Acquires Workforce Assessment Provider PDRI For $190M - Pearson (NYSE:PSO)

Pearson, Plc PSO has signed an agreement with SHL Group to acquire Personnel Decisions Research Institutes LLC (PDRI). The consideration for PDRI represents an enterprise value of $190 million.
PDRI provides workforce assessment services with a client base that includes the U.S. federal government.
Pearson expects the acquisition to expand its services to U.S. federal agencies, including through PDRI's partnership with the Office of Personnel Management to deliver the USA Hire platform.
The USA Hire platform serves more than 40 agencies and is utilized to assess more than 500,000 applicants annually.
PDRI will join Pearson's Assessment & Qualifications division.
"We are pleased to have the opportunity to expand this important market for Pearson and our assessments business,” said CEO Andy Bird.
Pearson expects to fund the deal with its existing cash and available liquidity. The deal is expected to be completed during 1H 2023.
Price Action: PSO shares closed lower by 0.36% at $11.08 on Friday.
Photo Via Company