Major EdTech Player Adtalem Completes $121M Deal for OnCourse Learning's Financial Services Unit

Adtalem Global Education has formalized its acquisition of OnCourse Learning’s financial services business, marking a significant expansion into banking, insurance, and mortgage sectors. The transaction, valued at approximately $121 million in cash, represents a strategic move to strengthen its workforce development capabilities across financial services verticals.

Deal Highlights and Market Positioning

The acquisition brings substantial revenue generating assets under Adtalem’s umbrella. OnCourse Learning’s financial services division generated nearly $31 million in revenues during 2018, demonstrating healthy profitability with EBITDA margins exceeding 30 percent. This performance underscores the business unit’s financial attractiveness and operational efficiency.

The transaction encompasses established sub-brands including BankersEdge and TTS, which command significant market presence in compliance training for banking and credit union institutions. Additionally, the deal captures OnCourse Learning’s mortgage licensing and continuing education programs, approved by the Nationwide Multistate Licensing System & Registry. These mortgage programs have trained more than 300,000 professionals and students nationwide, representing a substantial existing customer base and revenue stream.

Strategic Rationale and Portfolio Expansion

Adtalem’s leadership emphasized that the acquisition strengthens its enterprise strategy as a leading workforce solutions provider. The OnCourse Learning platform contributes over 1,700 courses to Adtalem’s catalog, providing expanded depth and breadth in financial services education. This consolidation positions Adtalem to serve evolving compliance, governance, and risk management needs within the financial services industry.

The financial services portfolio addition complements Adtalem’s existing holdings, which include the Association of Certified Anti-Money Laundering Specialists (ACAMS), renowned for its industry-recognized CAMS certification; Becker Professional Education, specializing in CPA exam preparation and continuing professional development; and EduPristine, a leading training provider based in India focused on accounting, finance, and digital marketing education.

Financial Impact and Timeline

Adtalem anticipated minimal impact on full-year fiscal 2019 earnings given the expected fourth-quarter closing date. However, the company projects that the transaction will provide modest accretion to fiscal 2020 results, reflecting management confidence in synergy realization and revenue integration opportunities. The deal structure includes customary post-closing adjustments to the purchase price.

This acquisition demonstrates continued consolidation activity within the professional education sector, as larger platforms seek to vertically integrate complementary training offerings and expand their addressable markets within highly regulated financial services environments.