Budapest, April 21, 2020 – Two key players in the Hungarian education market have come together, as the owners of Training360 Kft. have decided to purchase NetAcademia Oktatóközpont Kft. As a result of the acquisition, which was made with their own capital, the number of Training360's e-learning courses will increase to 500, and the combined revenue of the two companies last year is expected to exceed 3.4 billion forints.
An unprecedented acquisition has taken place in the domestic education market: Training360 Kft., which provided both online and traditional classroom training to approximately 12 thousand students last year, acquired the leading service provider in the online IT education market, NetAcademia Oktatóközpont Kft.. Training360 Kft., owned by four Hungarian private individuals, began negotiations to acquire NetAcademia at the end of 2019, which officially took place on March 31, 2020.
In recent years, we have been continuously monitoring the market to accelerate our organic growth through acquisitions. It was an important aspect that the company to be acquired had its own e-learning curriculum, which could well complement our continuously expanding electronic curriculum library. We have long seen a serious opportunity in the NetAcademia Training Center, as it has unique knowledge in the field of IT e-learning education, a significant customer base and at the same time a serious market potential. The current situation – the sudden dominance of online education tools due to the coronavirus – only strengthened our determination, which is why we decided to acquire NetAcademia – said József Nyisztor, Managing Director of Training360 Kft.
The expert added that as a result of the acquisition, a unique IT e-learning course portfolio will be created in Hungary, offering online educational topics in more than 500 different areas.
NetAcademia switched completely to online education 4 years ago, we are proud of what we have achieved since then. At the same time, I considered that a professional investor with strong capital and good knowledge of the education market could contribute even more effectively to further development, which is why I said yes to the purchase offer from Training360 Kft. – said Marcell Fóti, former owner and managing director of NetAcademia.
Staff expansion after acquisition
As a result of the acquisition financed with equity, the scope of group-level educational services extends to traditional classroom, e-learning and mixed training in the areas of business, organizational development, IT and other office work. Training360 Kft. will retain the NetAcademia brand name and will continue to run the company with the former CEO – Marcel Fóti. The combined revenue of the two companies for 2019, based on preliminary data, is expected to exceed HUF 3.4 billion.
As a result of the acquisition, the largest training center will merge with the largest online IT e-learning service provider. We believe that this way we can provide even more value to our customers both now and in the long term. Taking all this into account, we plan to expand the current team of nearly 50 people this year – reported József Nyisztor about his plans for the near future.
Training360 will expand NetAcademia's offering with its own e-learning materials in the coming period, and as a first step, it has already made available its online "home office" knowledge material that helps with working from home. The company will also continue to provide free access to NetAcademia e-learning materials for IT teachers at Hungarian vocational schools.
The two companies' audited key business figures for 2018
| Key business facts for 2018 | Training360 | NetAcademia |
|---|---|---|
| Revenue | 2,467,709 thousand forints | 326,532 thousand forints |
| Profit after tax | 722,589 thousand forints | 117,489 thousand forints |
| Fixed assets | 722,589 thousand forints | 49,833 thousand forints |
| Number of employees | 42 people | 5 people |
About Training360
Training360 is the leading service provider in the domestic education market, with its portfolio covering the various educational needs of individuals and companies, whether it is Office training, short-term professional official IT courses (Microsoft, Cisco, VMware, Oracle, Java, Linux), IT management training (ITIL® and others) or business, skill development and management training.
The company operates as an official Microsoft, Cisco, VMWare, Oracle, and IBM training center, among others, and is also an official Certiport and Pearson VUE exam center, providing the opportunity to obtain internationally recognized educational qualifications.
Training360, which employs over 50 people, offers additional, unique learning methods and solutions in addition to traditional forms of education. These include, for example, a cost-effective and time-flexible blended learning solution based on e-learning, consultations for preparing for international exams, discounted training series and educational packages, and online training.
About the NetAcademia Training Center
Since 1999, the NetAcademia Training Center has been providing high-level, unique IT courses with the aim of satisfying the professional knowledge needs of large corporate clients and making the ever-changing IT technologies accessible to everyone. It provides various training paths online in a cost-effective and understandable format for both large corporate clients and the target group interested in IT and wishing to develop in it. The quality of education is ensured by highly qualified instructors who can cut PPTs, take notes on the board and explain through practical examples.