(By Balaseshan) GP Strategies Corp. (NYSE:GPX), a global performance improvement services provider, said it has agreed to buy Princeton, New Jersey-based employee engagement services provider BlessingWhite for about $10 million.
GP Strategies expects the deal to add to earnings per share in 2013. The company expects to fund the acquisition using cash on hand, and, if necessary, borrowing under its $50 million revolving credit facility.
This acquisition will strengthen GP Strategies' ability to deliver comprehensive global leadership and professional development services across its diverse customer base in over 65 countries.
BlessingWhite, which was founded in 1973, is a provider of leadership development and employee engagement services that translate business strategies into results for its customers by developing more effective leaders and more engaged workforces. The transaction is expected to close within the next 30 days.
GPX closed Thursday's regular session at $19.80. The stock has been trading between $9.16 and $20.67 for the past 52 weeks.