Global publishing company John Wiley & Sons has acquired mthree from ECI Partners for approximately $129 million in cash.
London-headquartered mthree sources, trains, and prepares students and professionals for tech careers, and then places them with some of the world’s largest financial institutions, technology companies, and government agencies. mthree also retrains existing employees in technology skills. The company’s revenue for 2019 is expected to be more than $50 million, with a projected annual growth rate of over 20%.
Wiley president and chief executive Brian Napack said: “Wiley is committed to bridging the gap between education output and industry need. The acquisition of mthree advances Wiley’s leadership in powering the high-demand, high-potential careers that are fuelling the global knowledge economy. mthree is putting people in great IT jobs with great companies and these people are succeeding.”
Alex Headley, founder and chief executive of mthree, added: “The last five years have seen tremendous growth for mthree. We have been on a journey from a start-up to a global corporation that includes partnerships with the world’s largest banks and disruptive tech businesses. Wiley will enable mthree’s strategic growth plans to be realised, helping more graduates navigate the changing world of work and our clients grow their businesses with the right talent.”
Jefferies acted as mthree’s sole financial advisor on this transaction. Addleshaw Goddard acted as legal advisor to ECI Partners, and Osborne Clarke acted as legal advisor to mthree management.
John Wiley & Sons is headquartered in Hoboken, New Jersey.
Date published: 6 January 2020