Houlihan Lokey Advises Studyflix on Its Sale to EMBRACE, a Portfolio Company of Bertelsmann Investments

Houlihan Lokey is pleased to announce that Studyflix, the number one e-learning platform for students and graduates, has been acquired by Bertelsmann Investments to further develop its portfolio company EMBRACE into one of the leading HR tech companies. The transaction closed on 31 July, 2023.

With more than 6 million monthly active users, Studyflix is the largest e-learning and career platform for pupils, students, and graduates in the DACH region. On the platform, Gen Z finds more than 5,000 free explanatory videos in the areas of learning and careers. More than 1,000 corporate customers use Studyflix for employer branding and recruiting young talent. The startup was founded in 2018 by Reinhard Blech and Benedikt Bergner in Augsburg, Germany, and employs more than 100 people.

Bertelsmann Investments (BI) bundles Bertelsmann's global venture capital activities as well as the growth division Bertelsmann Next. The venture capital arm comprises the funds Bertelsmann Asia Investments (BAI), Bertelsmann India Investments (BII), and Bertelsmann Digital Media Investments (BDMI), as well as selected funds and direct investments in Europe, the U.S., Brazil, Southeast Asia, and Africa, among others. The Bertelsmann Next division drives the entrepreneurial development of new growth sectors and business areas, including the areas of digital health, mobile gaming, and HR tech. Bertelsmann Investments has invested €1.7 billion in more than 400 innovative companies and funds. Through its startup and fund network, Bertelsmann Investments currently holds more than 300 active investments worldwide.

EMBRACE is a progressive brand family and part of Bertelsmann Investments. The company bundles innovative offerings from the areas of recruiting, retention, and HR tech including the platforms Ausbildung.de, meinPraktikum.de, Trainee.de as well as Studyflix.

Gero Hesse, CEO of EMBRACE, said: "The acquisition of Studyflix brings us a big step closer to our vision of a comprehensive HR ecosystem with a strong footprint in the young target group."

With the takeover, the EMBRACE platforms Ausbildung.de, MeinPraktikum.de, and Trainee.de will be managed under one roof together with Studyflix. The joint reach amounts to approximately 9 million users per month. The established brand Studyflix will be retained.

Houlihan Lokey served as the exclusive financial advisor to Studyflix and assisted the shareholders throughout the transaction, including management presentations and business plan preparation, due diligence process coordination, and transaction negotiations.

This deal highlights the firm’s strong sector expertise in EdTech. Other transactions in this sector include the sale of karriere tutor to Trill Impact; the sale of sofatutor to a consortium led by Emeram and Gimv, and the sale of Studydrive to Axel Springer.

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