Dec 4 2009
GP Strategies Corporation (NYSE: GPX), announced that its principal operating subsidiary, global performance improvement solutions provider General Physics Corporation, has acquired Option Six, Inc., a provider of custom courseware development with expertise in the software and pharmaceutical industries.
GP Strategies anticipates that Option Six will have revenue exceeding $4 million for the year ending December 31, 2009 and that the acquired business will be accretive to earnings-per-share. GP utilized cash-on-hand to fund the acquisition.
Option Six, located in Bloomington, Indiana, provides blended learning courseware development and is known for consistently producing effective and engaging results. With close to ten years of custom courseware development experience, Option Six has a reputation for exceptional customer satisfaction.
Scott Greenberg, Chief Executive Officer of GP Strategies, stated, “We continue to pursue selective acquisitions of businesses that broaden our service and product offerings, deepen our capabilities, diversify our client mix and allow us to expand within existing clients. We believe that Option Six’s capabilities, combined with their industry experience, complement our ability to deliver outsourced learning services.”