• Infosec Institute (Infosec) is a leading cybersecurity education provider of comprehensive cyber training solutions for the entire workforce, including technical and non-technical roles
  • Infosec’s products include:
    • Infosec Skills: provides cybersecurity professionals access to 1,400+ hands-on cybersecurity courses and boot camp style, instructor-led training to prepare for certifications
    • Infosec IQ: provides resources for training employees about cyber threats, phishing scams and cyber safety through a SaaS offering
  • Headquartered in Madison, WI, Infosec serves more than 70% of the Fortune 500 and has educated more than five million learners worldwide


  • DC Advisory (DC) acted as exclusive financial advisor to Infosec on its sale to Cengage Group (Cengage)
  • DC was chosen due to its long-standing education, training and cybersecurity software expertise, deep knowledge of Infosec’s market leading cybersecurity training capabilities, and its vast network of key strategic and financial sponsors
  • During the transaction, DC worked closely with the founder and management team to run a tailored process that targeted engagement with both strategic and financial buyers, guiding Infosec to a successful outcome
  • Sitting uniquely at the intersection of certification training and security awareness, Infosec’s strong growth momentum, diversified customer base and differentiated content made it an appealing opportunity for buyers


  • Cengage agreed to acquire Infosec to expand into the cybersecurity professional training market and meaningfully increase the size of its rapidly growing Workforce Skills business
  • Infosec will join Cengage’s ed2go business as part of its Workforce Skills business
  • Cengage will also retain and invest in Infosec employees and products to support future growth within the space - with the online, employer-paid cybersecurity training segment expected to grow to USD 10bn annually by 2027
  • This transaction is expected to close in the first calendar quarter of 2022 subject to customary closing conditions and regulatory approvals