Houlihan Lokey Advises Performance Assessment Network on Its Sale to PSI Services
Houlihan Lokey is pleased to announce that Performance Assessment Network (PAN) has been acquired by PSI Services LLC (PSI). The transaction closed on January 20, 2017.
PSI is a worldwide, industry-leading professional testing services provider to corporations, federal and state government agencies, professional associations, certifying bodies, and leading academic institutions. The company offers various solutions through its multiple business channels to measure, assess, and identify the skills, traits, and abilities of individuals seeking jobs, degrees, and licensure or certification credentials.
PAN is a recognized leader in talent assessments and measurement solutions for the corporate, government, and education marketplace worldwide.
The acquisition of PAN extends PSI's product range and solution reach for its talent assessment market segment, providing an opportunity for the combined portfolio to expand their hiring and development programs by leveraging PAN's world-class assessment technology, supported by content from PAN's industry-leading assessment catalog and PSI's 70 years of expertise providing products and industry-leading psychometric consulting in the talent assessment industry.
"The PAN acquisition supports PSI's expansion plans for our talent assessment market (PSI's original market segment) as we look for strategic opportunities to continue our growth," said Steve Tapp, President and CEO of PSI. "By combining PSI's extensive psychometric consulting arm, industry-leading assessment products, and operational expertise with PAN's expanded leading-edge technology and test catalog, including IPAT published products, PSI is well positioned to deliver world-class solutions and provide more choice to the human capital marketplace."
Jim Holm, PAN's CEO, said, "We believe the partnership with PSI to be an excellent growth opportunity. The worldwide operational resources and test security experience of PSI, combined with PAN's more than 16,000 active testing administrators and HR managers using PAN's technology and catalog to hire and develop great employees, will provide a unique suite of robust product solutions to accelerate growth."
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