British professional and vocational education company BPP Education Group has acquired Dublin-based digital marketing training and certifications provider Digital Marketing Institute (DMI). Terms of the deal were undisclosed.
BPP said the acquisition would provide "valuable growth opportunities" for both companies as well as revenue synergies in support of their growth.
DMI will continue to operate as an independent business under its existing management and remain headquartered in Ireland, but BPP will share best practices and give its new subsidiary "opportunities" as a member of the wider group.
BPP said the deal, along with its recent acquisitions of Estio Training and Firebrand Training, would allow the company to deliver "a broader portfolio of programmes" and expand its number of clients and students.
With the backing of sponsor TDR, the group will seek to expand its geographical reach with the strategic acquisition of relevant education businesses.
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"The acquisition of Digital Marketing Institute introduces a new vertical of programmes into the BPP portfolio. We are seeing an ever-increasing demand from our clients and customers that want to expand their skills in digital marketing," said Graham Gaddes, CEO of BPP.
"The acquisition of DMI will allow our customers to access market leading certified programmes, whilst allowing the BPP Education Group to expand into new geographies and markets. The highly experienced team at DMI are a great cultural fit for BPP, and we look forward to welcoming them into the BPP Education Group.”
Founded in 2009, DMI has certified over 55,000 individuals with its digital marketing training portfolio, which extends from short courses to Masters-level programmes. DMI has over 230,000 members and partners with universities and training providers in over 100 countries.
The company has partnered with marketing professional bodies such as American Marketing Association and the Australian Marketing Institute, and it also works in collaboration with search and performance marketing leader Neil Patel Digital.
Ken Fitzpatrick, CEO of DMI, commented:"We are delighted to be part of the BPP Education Group, as DMI embarks on the next chapter of growth and success.
"BPP is an industry leader in education, and we are looking forward to sharing our passion for learning and delivering the highest quality learning experience for our students to drive capability and equip the workforce of the future."
Houlihan Lokey were advisors on the transaction on behalf of BPP/TDR Capital, Raymond James were advisors for Digital Marketing Institute.
Although Fitzpatrick remained with the company, co-founders Ian Dodson and Anthony Quigley exited DMI when US growth equity firm Spectrum Equity took a majority stake in 2017.
The latest available accounts for Digital Marketing Institute Ltd show a €2.8m profit in 2021, up from €1.7m in 2020. Ultimate parent Digital Marketing Holdings Ltd had net assets of €30.4m in 2021.
(Pic: Getty Images)
