Investcorp, a global provider and manager of alternative investment products, announces that GL Education Group (GLE), the UK’s major provider of formative assessments has acquired The Test Factory, an assessment technology supplier based near Sunderland in the northeast of England. The terms of the transaction are confidential.

Investcorp, in partnership with GLE’s management team, acquired GLE in 2012.

Mohammed Al-Shroogi, president of Gulf business, Investcorp, said: “Investcorp works closely with all its portfolio company management teams and this acquisition, once again, highlights our ability to identify high quality investment opportunities intended to add value for all stakeholders. GLE will seek to continue ongoing growth with strategic investments in The Test Factory’s business and technology to offer a broader portfolio of assessment and analytical solutions for corporate and educational customers.”

Greg Watson, chief executive of the GL Education Group, welcomed the addition of new digital capability to the business and said: “We were a pioneer of digital assessment in schools a decade ago and our Testwise e-assessment platform is used in 7,000 UK schools and delivers two million digital tests globally annually. The Test Factory has been a pioneer in developing high-quality e-assessment technology and we look forward to investing in developing that technology even further.”