University College Cork (UCC) has agreed to sell the Irish Management Institute (IMI) to the Kilcullen Business Post Group.

IMI staff were briefed on the sale earlier today (2 April) and advised that they will transfer to the Business Post publisher once the transaction is completed.

UCC said that the deal will ensure that IMI is well positioned to continue to inform, educate and support business and service providers in the private and public sectors.

“We are pleased to announce this new chapter in IMI’s history. As part of the Kilcullen Business Post Group, IMI will be positioned to continue shaping and inspiring leaders in a fast-moving business environment," said Prof. John O'Halloran, president of UCC.

The Kilcullen Business Post Group has plans to invest in and grow the IMI under its ownership, and publisher and CEO Enda O'Coineen described the institute as "one of Ireland's iconic business brands" as well as "an engine in the Irish success story" that is "ready to go into its next stage of development."

"This acquisition complements our group vision in delivering daily world class Content (BusinessPost.ie), Experiences (iQuest.ie), Insights (RedCResearch.com) and now Executive Education (IMI.ie).

"It will be a dynamic driver, supported by existing business services, in realising the Group’s Irish and global vision through technology and people," O'Coineen added.

“We would like to thank UCC for their stewardship of IMI over the last ten years. As we bring the strong IMI team forward to its next stage of development in world class executive education serving business, UCC will continue to award IMI qualifications as the business transitions to new awarding arrangements.”

Dr. Pamela Byrne, chairperson of the IMI Board, commented: “Building on the partnership with UCC, IMI looks forward to an exciting journey of growth and business excellence under Kilcullen Business Post Group.”

Terms of the deal were not disclosed.

Photo: Shane O'Sullivan. (Pic: File)