INDIANAPOLIS – Strada Education Network℠ (Strada), a national nonprofit dedicated to strengthening America’s pathways between education and employment, today announced it has entered into a definitive agreement to acquire labor market analytics leader Economic Modeling LLC (Emsi), subject to the terms and conditions of the definitive agreement.
Since 2001, Emsi has advanced its focus on the student-to-employment journey, serving as a labor market adviser to leaders in higher education, business and community development. The company develops models based on public and proprietary sources of economic data to provide analytics and insights on employment and salary trends.
“As part of our commitment to closing the gaps between education and employment, we believe it is essential that higher education providers, employers and workforce leaders have access to timely and accurate insights on today’s labor market trends and, in turn, empower students and professionals with that information,” said William D. Hansen, Strada’s president and CEO. “Improving the exchange of information and insights between consumers, educators, employers and workforce leaders is a core focus of Strada’s work, and Emsi’s expertise and services sit at the heart of our mission.”
Pursuant to the definitive agreement, Strada is expected to acquire Emsi from CareerBuilder, a global leader in AI-powered, platform-based human capital solutions. Emsi will join Strada Education Network’s growing family of mission-aligned affiliated organizations and companies. Like Strada’s other affiliates, Emsi, upon the closing of the transaction, will continue to operate as an independent entity while collaborating and pursuing synergies that exist across Strada’s network.
“CareerBuilder was instrumental in establishing the leadership position Emsi has today, and we will continue to work hand in hand with them as we become part of the Strada team,” said Andrew Crapuchettes, CEO of Emsi. “Joining forces with Strada will give Emsi a great home to further expand our business while enabling us to play a pivotal role in tackling the most critical issues impacting the U.S. labor force and economy.”
“CareerBuilder, Strada and Emsi share the same passion for solving the skills gap, and we will be able to leverage our respective resources to upskill and reskill workers and connect them with employers,” said Matt Ferguson, CEO of CareerBuilder. “CareerBuilder will continue to partner closely with Emsi and co-develop and sell Emsi solutions. The agreement will expand opportunities for all of our organizations and accelerate efforts to reduce talent deficits in the labor market.”
As a 501(c)(3) public charity, Strada deploys a unique approach to improving education-to-employment pathways by combining philanthropy with direct services to deliver social impact. To scale and accelerate its Completion With a Purpose® mission, the Indianapolis-based nonprofit supports strategic philanthropy, research and insights, innovation investments, and best-in-class solutions delivered through its mission-aligned affiliates, which will soon include Emsi, and these leading providers:
The transaction, which is conditioned on customary regulatory reviews and approvals, is expected to close during second quarter 2018. Terms of the deal were not disclosed.
LionTree Advisors served as financial adviser to CareerBuilder. Akin Gump Strauss Hauer & Feld LLP served as CareerBuilder’s legal adviser.
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