Netex has completed the acquisition of 100% of Virtual College, a leading UK e-learning company specialising in the design, development and production of ready-to-go and bespoke digital workplace learning solutions.
Founded in 1995 and employing approximately 100 people, Virtual College has a long track record with both public and private sector clients. Its turnover at the end of March 2021 was approximately EUR 6.6 million, with its core business being catalogue content, which accounts for 77% of its turnover, plus the production of customised content.
Following the integration of Virtual College into the Netex structure, the company’s annual turnover is expected to reach 20 million euros, 64% more than at the end of the 2020-2021 financial year, when it reached 12.2 million euros.
The purchase operation, announced last May, has been completed with the joint signing of the agreement by the respective management teams.
The incorporation of Virtual College into the Netex structure is a very important step for the company in its plans for development, international expansion and the search for leadership in the international e-learning sector. The Board of Directors of the company, on behalf of its shareholders, is firmly committed to the path that we started in 2017 with the exit to the MAB as a listed company, and which has allowed us to provide the resources and structure necessary to undertake operations as important as this one. We welcome the entire Virtual College team, which is now part of Netex, and which will be fundamental to achieving our new vision and collective objectives.
Carlos Ezquerro
Netex CEO
The combination of the two companies brings new opportunities and synergies that will accelerate joint growth. The overall vision of Netex after the acquisition consists of two verticals, education and corporate, and three lines of business: Netex Cloud, Netex Learning Studio and Netex Virtual College.
With the integration of Virtual College, Netex will offer new technologies and solutions, and hundreds of professional training courses will be made available to users through Netex’s own marketplace. Virtual College currently specialises in providing workplace training to both public and private sector clients, with 4.7 million learners on its platform. With this acquisition, Netex strengthens its position not only in the UK market, but also globally.
In addition, Netex Virtual College will offer a new learning experience based on programmes with multiple content formats and platforms that allow for a tailor-made pathway with a high level of interaction. This learning experience is aimed at applying, analysing and developing skills through live sessions, interactions with teachers and multiple complementary services.
The acquisition of Virtual College by Netex is the first major corporate operation for the group, whose strategic plan contemplates inorganic growth as one of the ways to develop business and increase both market share and increase the size and global reach of the company.
The company’s management has been very involved in the search for interesting growth possibilities in the market. During the last months we have studied more than 30 deals, until we found the right one for Netex at this moment in time. The integration of Virtual College is an immediate accelerator in our penetration of the English-speaking market, both in the UK and in the US.
Alejandro Faginas
Netex CFO
