Guardian Media Group takes 15% share in Decoded
Guardian Media Group (GMG) has taken a 15 per cent stake in code and data education company Decoded.
Decoded, which runs courses such as Code in a Day and Data in a Day, will now see Andrew Miller, chief executive officer of GMG, join the board as a non-executive director.
Miller said: “We’re delighted to announce an investment in and strategic partnership with Decoded, which sees us working with an incredibly successful and innovative young business that is closely aligned to our belief in the importance of the digital future and the education required to maximise the enormous opportunities afforded by it. GMG’s global reach and reputation combined with Decoded’s pioneering digital philosophy will make for a powerful partnership.
“This investment reflects GMG’s determination to pursue transactions that strengthen our overall business, which generated profits of £22.7m in the financial year ending March 30 2013.”
Decoded was launched in 2011 by entrepreneurs Alasdair Blackwell, Steve Henry, Kathryn Parsons and Richard Peters.
Parsons, who was featured as part of The Drum's ongoing Girl Guides series aimed at encouraging young women to take up digital as a career, said: "Decoded have been at the forefront of driving the global code education zeitgeist since our launch in 2011. We believe digital literacy, skills and empowerment are no longer a nice to have, but a need to have. It is an honour to be working alongside Andrew and the Guardian Media Group team who share our vision for digital literacy and the potential it holds for individuals, business and the economy."
Financial terms of the transaction have not been disclosed.