Netex, a Spanish technology company specialized in distance learning solutions for the international business and educational ecosystem, has completed the acquisition of 100% of the British company Virtual College, a leader in the British e-learning market specializing in the design, development and production of ready-to-go and tailor-made digital learning solutions in the workplace.
Founded in 1995 and with approximately 100 employees, Virtual College has a long history as one of the major players in the British e-learning market, both in public and private sector clients. Its business volume at the end of March 2021 was about 6.6 million eurosIts main business is catalog content, which represents 77% of its turnover and to which is added the production of tailored content.
Following the integration of Virtual College into the Netex structure, it is anticipated that the annual turnover of the company reaches 20 million euros in turnover, 64% more compared to the end of the 2020-2021 financial year, which reached 12.2 million euros, as reported by the company on November 18, 2021.
The purchase operation, announced last May, has been completed with the joint signing of the agreement by the respective management teams. In the words of Carlos Ezquerro, CEO of Netex “The incorporation of Virtual College to the structure of Netex is a very important step for the company in its development plans, international expansion and its search for leadership in the e-learning sector at an international level. The company’s Board of Directors, On behalf of its shareholders, it is firmly committed to the path we started in 2017 with the exit to MAB as a listed company, and which has allowed us to provide the necessary resources and structure to undertake operations as important as this one. We welcome The entire Virtual College team is now part of Netex, and it will be essential to achieve our new vision and collective objectives ”.
The combination of both companies leads to new opportunities and synergies that accelerate the growth of the company. With the integration of Virtual College, Netex will offer a new branch of services called Netex Virtual College. Netex will offer new technologies and solutions, hundreds of professional training courses will be made available to users, which will be accessed from the Netex marketplace itself. Currently, Virtual College specializes in offering training in the workplace to both public and private sector clients, with 4.7 million students on its platform. With this acquisition, Netex strengthens its position not only in the UK market, but also globally.
In addition, through Netex Virtual College a new multi-format program-based learning experience of content and platforms that allow you to configure a tailor-made itinerary with a high level of interaction. This learning experience is aimed at applying, analyzing and developing skills, through live sessions, interactions with teachers and multiple complementary services.
The global business vision After the acquisition of Netex, it is made up of two business verticals, educational and corporate, and 3 business lines: Netex Cloud, Netex Learning Studios and Virtual College.
The acquisition of Virtual College by Netex is the first relevant corporate operation for the group, whose strategic plan contemplates inorganic growth as one of the ways of developing business and increasing both market share and increasing size and business. global reach of the company.
As it points Alejandro Faginas, CFO of Netex, “The management of the company has been very involved in the search for interesting growth possibilities in the market. During the last months we have studied more than 30 operations, until we find the ideal one for Netex at this time. The integration of Virtual College is an immediate accelerator in our penetration into the English-speaking market, both British and American. “