GP Strategies scoops up Canadian rival Prospero

GP Strategies expands in Canada, scooping up rival Prospero Learning Solutions

Associated Press

ELKRIDGE, Md. (AP) -- GP Strategies Corp. said Wednesday that it bought Prospero Learning Solutions, a smaller rival based in Canada.

The price of the deal was not disclosed.

GP Strategies, formerly General Physics Corp., provides management consulting and sales and technical training, among other services, to help businesses improve efficiency and risk management and train employees. It is based outside Baltimore in Elkridge, Md.

It said the addition of Prospero will help it serve Canadian companies, and expects the purchase to add to earnings per share this year.

Prospero Solutions, with offices in Toronto and Montreal, helps companies build e-learning courses, often aimed at helping employees be more productive. It will become part of GP Strategies' Learning Solutions unit.

Prospero Solutions had $7 million in revenue last year, according to GP Strategies. GP Strategies had revenue of $402 million.

Shares of the lightly-traded GP Strategies closed Tuesday at $24.83, up 20 percent since the start of the year.

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