Under the terms of the agreement, the enterprise value of General Assembly amounts to $412.5m (€335m). The transaction will be financed from the Group’s existing financing resources and is subject to customary closing conditions, including certain regulatory approvals. It is expected to close during Q2 2018.
The acquisition will position the Adecco Group as a leader in the up-/re-skilling segment, complementing existing solutions and creating significant synergies in Talent Development & Career Transition and Professional Staffing & Solutions.
Founded in 2011, General Assembly provides dynamic digital skills training solutions for individuals and corporations, offering employer-focused, practitioner-taught technical skills training and development in business-critical areas such as coding, data science, user experience design and digital marketing. Its full-time immersive and part-time courses are delivered by expert instructors across an international network of 20 campuses, at enterprise client sites, online or via a blended model.
General Assembly will continue to operate as a separate division within the Adecco Group under the leadership of founder and CEO Jake Schwartz and his team, reporting to Sergio Picarelli, Member of the Executive Committee of the Adecco Group.