Guardian Media Group takes strategic stake in Decoded
Friday, February 14, 2014
LONDON, Friday 14 February 2014: Guardian Media Group (GMG), the global news and digital publishing group, is strengthening its digital portfolio, with a strategic investment in Decoded, the code and data education and digital transformation company.
As part of the transaction, GMG is acquiring a 15 per cent holding in Decoded, renowned for their one-day transformative accelerated learning experiences Code in a Day and Data in a Day.
The investment will help accelerate Decoded’s international expansion, and is the latest step by GMG in focusing attention and resources on initiatives and programmes that support its digital-first strategy. The news follows the announcement last month that GMG has signed an agreement to sell its 50.1% stake in Trader Media Group to its joint venture partner Apax Partners.
Andrew Miller, chief executive officer of GMG, said: “We’re delighted to announce an investment in and strategic partnership with Decoded, which sees us working with an incredibly successful and innovative young business that is closely aligned to our belief in the importance of the digital future and the education required to maximise the enormous opportunities afforded by it. GMG’s global reach and reputation combined with Decoded’s pioneering digital philosophy will make for a powerful partnership.
“This investment reflects GMG’s determination to pursue transactions that strengthen our overall business, which generated profits of £22.7m in the financial year ending March 30 2013.”
Decoded was launched in 2011 by entrepreneurs Alasdair Blackwell, Steve Henry, Kathryn Parsons and Richard Peters. Its flagship course ‘Code in a Day’ teaches business professionals to harness the opportunities created by code literacy and skills.
Decoded has also developed ‘Data in a Day’, unlocking the potential for everyone and anyone to understand and realise the potential of data within their lives and businesses. CodeED and Decoded’s Education Fund have been developed specifically to empower teachers with the digital skills and literacy they need to bring code alive with children of all ages and to deliver the new code curriculum in the classroom.
Kathryn Parsons, founder, Decoded, said: “Decoded have been at the forefront of driving the global code education zeitgeist since our launch in 2011. We believe digital literacy, skills and empowerment are no longer a nice to have, but a need to have. It is an honour to be working alongside Andrew and the Guardian Media Group team who share our vision for digital literacy and the potential it holds for individuals, business and the economy.”
From its London base, Decoded has already taught thousands of professionals from every industry and sector and from FTSE 100 corporations to start-up companies. Decoded operates from London and New York and is actively pursuing further international expansion opportunities. The GMG investment is expected to enhance that expansion strategy.
Following completion of the transaction Andrew Miller joins the Decoded board as a non-executive director. Decoded’s founders remain the majority shareholders in the business.
Financial terms of the transaction have not been disclosed.
For further information:
In the UK:
Guardian News & Media Press Office
+44 20 3353 3696
In the US:
Guardian US Press Office
+1 (646) 937-5878
Guardian Media Group Plc
Guardian Media Group is wholly owned by The Scott Trust Ltd, which exists to secure the financial and editorial independence of the Guardian in perpetuity. GMG’s core business is Guardian News & Media, publisher of theguardian.com, the third largest English-speaking newspaper website in the world; and the Guardian and The Observer newspapers in the UK.