Faethm is one of Australia’s highest profile tech companies and it will sit at the heart of Pearson’s new Workforce Skills division. This acquisition will leverage Faethm's market-leading data, insights and AI capabilities to power the next generation of Pearson’s lifelong learning products, which are focused on meeting the rapidly changing needs of today’s workforce and bridging the global skills gap.
Since Faethm’s launch less than four years ago the company has grown to serve customers in 21 industries in 26 countries from offices in Sydney, London, San Francisco and New York. Faethm helps governments, companies and workers understand the dynamic forces shaping the labour market-from technological disruption to economic shocks such as COVID-19 and climate change, and in turn make data driven decisions to navigate those changes and upskill or reskill their workforce.
Herbert Smith Freehills worked closely with the Pearson team and its other advisers.
The Herbert Smith Freehills team was led by Aaron White, TMT Partner in the firm's London office. He was supported by associates Claire Bamford, Ben Waterfall and Jamie Ball in London, associate Crusoe Flynn-Pittar in Brisbane and a large cross practice team of partners and lawyers from across the Herbert Smith Freehills' network.
Aaron White commented: “We are delighted that Pearson has called on our global M&A and TMT sector expertise to help Pearson execute on its digital strategy and commitment to meeting the lifelong learning needs of people around the world".
The closing of the transaction is expected to take place during the second half of September 2021.