Phoenix Education to Acquire Fuel50, Expanding Workforce Transformation
PXED is trading near its 52-week low of $23.52 (13% above the low).
Summary
Phoenix Education Partners announced it will acquire Fuel50, a workforce transformation platform. The deal expands Phoenix's capabilities in talent management and career development. No financial terms were disclosed. The transaction is expected to close within 30 days. Fuel50's co-founder will take the CEO role after the acquisition. This follows a period of flat revenue and declining EPS, so the acquisition may be aimed at reigniting growth.
At the time of this announcement, PXED was trading at $26.59 on NYSE in the Trade & Services sector, with a market capitalization of approximately $958.5M. The 52-week trading range was $23.52 to $47.08. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.