Gurgaon, 31 Sep 2023. Asia’s preferred HR Tech Company, PeopleStrong today announced the acquisition of its Assessment and Remote Proctoring Business – Wheebox by ETS, the world’s largest private nonprofit educational research and measurement organization.
The deal was led by ETS Strategic Capital, the private equity investment and merger and acquisition execution arm for ETS, its subsidiaries and its partners. Credit Suisse advised on the transaction and the acquired business will continue to operate independently as a majority-owned subsidiary of ETS.
An Independent Nonprofit organization, ETS is devoted to expanding access and opportunities for learners from all backgrounds through skills measurement. Education research and assessment are the key modes to achieving this mission, and with Wheebox’s scalable Assessment and Remote Proctoring engine, a credible research study like the India Skills Report – this journey would get accelerated manifold.
Wheebox is a fully owned subsidiary of PeopleStrong, a portfolio company of Multiples, India’s leading Private Equity firm. It currently serves 1000+ customers, conducting 11 million assessments annually across India, and the Middle East. The partnership will not only power up Wheebox’s GTM strategy in India but will accelerate its journey to the Global Markets. Together both brands will work towards measuring talent potential and advancing the quality and equity in education.
Speaking on the occasion Pankaj Bansal, Co-Founder and Group CEO, PeopleStrong shared, “To keep up with the pace of business transformation it is important to have a skilled workforce that is ready to work. The partnership between Wheebox and ETS is set to empower organizations at scale with their comprehensive content and assessment solutions. The Cofounders of the company, Nirmal Singh and Pawan Kumar along with their Teams have built an inspiring business and we will always remain their proud cheerleaders”.
Amit Sevak, CEO, of ETS said, “ETS is excited to bring Wheebox into our family of assessment services and solutions,” said ETS CEO, Amit Sevak. “Wheebox is a strong addition to our portfolio of capabilities, and we’re thrilled to welcome their talented team into the global ETS enterprise.”
The Cofounders of Wheebox, Nirmal Singh (CEO) and Pawan Kumar (CTO) added, “This is the beginning of a new chapter in our journey. We are excited to have a partner like ETS supporting our mission of measuring the world’s talent potential.”
ETS believes in the life-changing power of learning. For the last 75 years, the company has been driven by a vision of what’s possible when all people can improve their lives through education. It’s why their uncompromising commitment to equity and fairness is behind everything we do. ETS serves learners, educators and government agencies by providing measurement solutions, and conducting research, analysis and policy studies. ETS develops, administers and scores tens of millions of tests annually — including the TOEFL® and TOEIC® tests, the GRE® tests and The Praxis Series® assessments — in more than 200 countries, at over 9,000 locations worldwide. www.ets.org
PeopleStrong is Asia Pacific’s leading, and the most comprehensive Human Capital Management SaaS platform. The HR technology company focuses on delivering unique employee experience, data-driven decision-making, and agility for businesses. Simplifying Worklife at over 500 large enterprises across the emerging economies of Asia & Middle East, PeopleStrong empowers the lives of 2 million+ employees with a mobile-first, AI, and ML-powered talent operating system. Their tech capabilities span across the employee lifecycle from hire to exit, including Human Capital Management, Payroll, Talent Acquisition & Management, and Collaboration. PeopleStrong is rated among the Top 5 in the Asia Pacific at Gartner’s Peer Insights and voted as Customers’ Choice of HR Tech in the Gartner ‘Voice of Customer’ Report for 1000+ employee enterprises. https://www.peoplestrong.com
Wheebox is one of the leading Global online remote proctored testing firms headquartered in India with a presence across 5 countries globally. It partners with mid and large size corporations to hire and develop talent and hundreds of higher education institutions to measure internal exams using AI-based proctored assessments. It measures over 12 million unique candidates annually and helps more than 1000 corporations and 500 of institutions of repute to build and measure productivity.