The European human resources services company Adecco Group said that is acquiring the New York-based, programming, design, and management training startup General Assembly for $413 million. With the acquisition, Adecco adds to its ability to provide job training and re-skilling services for businesses. It’s proof that General Assembly’s own business has come a long way since its early days as a startup offering continuing education or training programs for new entrants into the tech-enabled white collar workforce . General Assembly was worth $440 million after its last, $70 million investment round, according to a report in Axios , which means that early stage investors will see a nice return on their investment while many later stage backers — including Wellington Management and Fresco Capital are looking at some pretty flat returns. Investors likely popping some corks right now include Alex Ohanian’s Initialized Capital, Maveron, and Bezos Expeditions, the venture capital fund of Amazon founder Jeff Bezos (who clearly needs the money). It’s not an ignominious outcome for General Assembly, which brought in $100 million in 2017, but not the exit that many in the New York tech ecosystem had hoped for. Over time, General Assembly became less of a consumer facing business and transitioned into one that was serving primarily business clients — which means access to Adecco Group’s over 100,000 businesses is a big boon to the company’s continued expansion plans. “By offering General Assembly’s services alongside the Group’s existing talent development, career transition and professional staffing solutions we will be able to better respond to… client needs, enhancing both access to and the supply of the most in-demand skills,” said Alain Dehaze, chief executive of the Adecco Group, in a statement. The company will continue to operate as a separate division and will continue to be led by Jake Schwartz, General Assembly’s founder and chief executive. Schwartz will report to Sergio Picarelli on Adecco’s executive committee. “General Assembly has always been about creating bridges between education and employment — that’s what has allowed us to scale to 20 campuses, 50,000 alumni, and over 300 Fortune 500 clients,” says Schwartz, in a statement
Responding to the talent shortage and increasing demand facing the cybersecurity industry, Udacity said that it is now developing a new nanodegree focused on security . Launched at the security industry’s RSA Conference , details about the new program (including potential partners) are still sketchy ( there’s little available on the information page on the Udacity’s website about the program). The announcement at RSA actually included an active call for partners for the security program. To the leaders in this field, we are extending the opportunity to join us. Your organization, together with Udacity , can help shape the future of Cybersecurity training, and nurture the world’s most advanced pipeline of highly-qualified Cybersecurity talent. Through our partnership, your organization will have early access to this incredible talent pipeline, and the opportunity to hire those experts who have trained on the curriculum you helped to build. As we consider the technological landscape of the future, we continually seek opportunities to apply the world’s most transformative technologies to the world’s most pressing challenges, and to educate, develop, and nurture the talent that will solve these challenges. We see this kind of opportunity in the field of Cybersecurity, and we look forward to building this program in partnership with the world’s leading Cybersecurity experts. Your expertise and experience will inform the development of our curriculum. Your subject matter experts will provide vital leadership and deliver valuable knowledge to our students. Through the establishment of scholarships, you will help ensure maximum opportunity for the most deserving and qualified students across the globe. Announcing the new program on the company’s blog, Udacity cited reports from the Department of Labor indicating that job opportunities for “information security analysts is projected to grow 28 percent from 2016 to 2026.” Udacity’s security sales pitch is that it has already trained 10,000 artificial intelligence engineers (no word on how many the company has successfully placed in companies), and has thousands of students actively enrolled in its artificial intelligence and data analysis classes. Through its paid and free classes Udacity claims some 8 million students and 30,000 graduates of the company’s nanodegree programs. Udacity has made its reputation by offering classes in some of technology’s most sought after fields including autonomous vehicle systems, artificial intelligence and big data.