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GP Strategies Acquires Prospero Learning Solutions

ELKRIDGE, Md., June 5, 2013 /PRNewswire/ -- Global performance improvement solutions provider GP Strategies Corporation (NYSE: GPX) announced today that it has acquired Prospero Learning Solutions, a provider of custom learning and content development solutions.

Prospero highlights:

  • Founded in 1998 with offices in Toronto, Ontario and Montreal, Quebec
  • Generated in excess of $7 million in revenue for 2012
  • Recognized for 2012 by PROFIT 500 as one of the Fastest Growing Canadian Companies
  • Clients include Fortune 500 and Financial Post 500 companies
  • Recognized for content development excellence by industry organizations, including Brandon Hall, Canadian Society for Training and Development, and the International Society for Performance Improvement

With the addition of Prospero, GP Strategies' Canadian operations now has more than 100 employees, strengthening GP Strategies' ability to deliver custom learning solutions to Canadian customers. Prospero will operate as a part of GP Strategies' Learning Solutions group and continue under the leadership of Lorne Novolker and Alan Ray.  GP Strategies anticipates that the acquired business will be accretive to earnings per share in 2013.

Scott Greenberg, Chief Executive Officer of GP Strategies, stated, "We continue to pursue selective acquisitions that broaden our global services and product offerings. We believe that Prospero's capabilities, combined with their industry experience, will further our platform as a premier global training and performance improvement company."

Lorne Novolker, President of Prospero, stated, "I am very excited about the mutual benefits of this transaction. Our presence and success in Canada combined with the wealth of services, support and expertise offered by GP Strategies will greatly benefit all of our clients and the Canadian training industry as a whole."

Additional information may be found at www.prosperolearning.com.  

About GP Strategies

GP Strategies Corporation (NYSE: GPX) is a global performance improvement solutions provider of training, eLearning solutions, management consulting and engineering services. GP Strategies' solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting and business improvement services, customized to meet the specific needs of its clients. Clients include Fortune 500 companies, manufacturing, process and energy industries, and other commercial and government customers. Additional information may be found at www.gpstrategies.com

Forward-Looking Statement:

We make statements in this press release that are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements reflect our current expectations concerning future events and results. We use words such as "expect," "intend," "believe," "may," "should," "could," "anticipates," and similar expressions to identify forward-looking statements, but their absence does not mean a statement is not forward-looking. These statements are not guarantees of our future performance and are subject to risks, uncertainties, and other important factors that could cause our actual performance or achievements to be materially different from those we project. For a full discussion of these risks, uncertainties, and factors, we encourage you to read our documents on file with the Securities and Exchange Commission, including those set forth in our periodic reports under the forward-looking statements and risk factors sections. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

© 2013 GP Strategies Corporation. All rights reserved. GP Strategies and the GP Strategies logo design are trademarks of GP Strategies Corporation.

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