Bertelsmann, IFC Invest in Brazilian Corporate Training Company

Financing

Bertelsmann, IFC Invest in Brazilian Corporate Training Company

Jun 8, 2015

AFFERO LAB, a privately-held Brazilian online corporate training provider based in Rio de Janeiro, has sold most of its shares. Bertelsmann, the German media conglomerate, has purchased a 40 percent stake; another 30 percent has been acquired by the World Bank Group's International Finance Corporation. Financial details were not disclosed.

Affero Lab, which trains more than one million people each year and serves more than 500 Brazilian cities, was formed in 2013 as a result of a merger of two corporate training companies in the country. The company saw revenues of approximately $43.5 million in 2014, according to Fox News Latino.

Learn more about EdSurge operations, ethics and policies here. Learn more about EdSurge supporters here.

More from EdSurge

Get our email newsletterSign me up
Keep up to date with our email newsletterSign me up