November 20, 2014 -- Norwalk, CT. Xerox (NYSE:XRX) today announced an agreement that expands its learning portfolio with the acquisition of Intrepid Learning Solutions' learning services to ensure companies' employees are equipped with the latest skills and knowledge to improve their business performance.
"The speed of change in today's business world means that in order to stay relevant, companies and their employees must be at the top of their game"
Xerox's acquisition of the Seattle-based firm's capabilities includes:
- Consulting services focused on researching and developing company-wide learning strategies, measuring the effectiveness of the programs, and benchmarking against industry standards;
- Course curriculum design and development tailored to a clients' specific business needs, ranging from IT training to leadership development and products and service-related education;
- Instructors, trainers and facilitators to provide classroom instruction;
- Administration and logistics for learning programs to ensure employees receive instruction in a timely and effective manner.
Xerox's Learning Services unit has focused on implementing systems that manage a company's internal talent management and employee learning programs, including live classroom sessions and e-learning.
"The speed of change in today's business world means that in order to stay relevant, companies and their employees must be at the top of their game," said Mark Hill, group executive of Xerox human resource services. "The addition of Intrepid's expertise to our learning organization significantly expands our ability to deliver impactful, engaging and comprehensive learning solutions accessible to our customers at the point and time of greatest need."
Xerox's acquisition does not include Intrepid's cloud-based learning technology business, which will continue to go to market under the Intrepid Learning brand after closing. The two companies will launch a partnership alliance to present clients with unified learning options using Intrepid's technology and Xerox's e-learning, consulting, administration and classroom training programs.
"Together, we will be able to offer our clients significant value through Xerox's globally scalable learning services which naturally augment our award-winning cloud-based training technology," said Sam Herring, Intrepid Learning's CEO who co-founded the company in 1999 and will continue to lead the new Intrepid organization after the transaction is completed.
The global outsourced learning services market is estimated to be $129 billion, with the largest consumers of learning services consisting of government, manufacturing, high-tech, financial services and telecom – segments where Xerox has a deep client base and industry expertise.
The company and its 260 employees will continue operating from its Seattle and Mukilteo, Wash. locations.
Terms of the transaction were not disclosed. The transaction is expected to close following the completion of customary closing conditions.
Xerox is a global business services, technology and document management company helping organizations transform the way they manage their business processes and information. Headquartered in Norwalk, Conn., we have more than 140,000 Xerox employees and do business in more than 180 countries. Together, we provide business process services, printing equipment, hardware and software technology for managing information -- from data to documents. Learn more at www.xerox.com.