| [December 03, 2009] |
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GP Strategies Acquires Option Six, Inc.
ELKRIDGE, Md. --(Business Wire)--
GP Strategies Corporation (NYSE: GPX), announced that its principal operating subsidiary, global performance improvement solutions provider General Physics Corporation, has acquired Option Six, Inc., a provider of custom courseware development with expertise in the software and pharmaceutical industries. GP Strategies anticipates that Option Six will have revenue exceeding $4 million for the year ending December 31, 2009 and that the acquired business will be accretive to earnings-per-share. GP utilized cash-on-hand to fund the acquisition.
Option Six, located in Bloomington, Indiana, provides blended learning courseware development and is known for consistently producing effective and engaging results. With close to ten years of custom courseware development experience, Option Six has a reputation for exceptional customer satisfaction.
Scott Greenberg, Chief Executive Officer of GP Strategies, stated, "We continue to pursue selective acquisitions of businesses that broaden our service and product offerings, deepen our capabilities, diversify our client mix and allow us to expand within existing clients. We believe that Option Six's capabilities, combined with their industry experience, complement our ability to deliver outsourced learning services."
To learn more about Option Six, Inc., visit http://www.optionsix.com/.
About GP
GP is the principal operating subsidiary of GP Strategies Corporation (NYSE: GPX). GP is a global performance improvement solutions provider of sales and technical training, e-Learning solutions, management consulting and engineering services. GP's solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting and business improvement services, customized to meet the specific needs of its clients. Clients include Fortune 500 companies, manufacturing, process and energy industries, and other commercial and government customers. Additional information may be found at http://www.gpworldwide.com.
We make statements in this press release that are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. These statements reflect our current expectations concerning future events and results. We use words such as "expect," "intend," "believe," "may," "should," "could," "anticipates," and similar expressions to identify forward-looking statements, but their absence does not mean a statement is not forward-looking. These statements are not guarantees of our future performance and are subject to risks, uncertainties, and other important factors that could cause our actual performance or achievements to be materially different from those we project. For a full discussion of these risks, uncertainties, and factors, we encourage you to read our documents on file with the Securities and Exchange Commission, including those set forth in our periodic reports under the forward-looking statements and risk factors sections. Except as required by law, we do not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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