The CEO of Cary-based Global Knowledge says the acquisition of Canada's largest corporate training firm is a strong addition even though the business had financial problems.

Last week Global Knowledge completed the previously announced acquisition of the assets of Nexient Learning, which has 220 employees and generated $55.2 million in revenue last year. Nexient's ambitious expansion was fueled by debt that led it to file for the Canadian equivalent of Chapter 11 bankruptcy, but the business has consistently generated positive cash flow from operations, said Global Knowledge CEO Brian Branson.

That's crucial because Global Knowledge acquired Nexient's assets, not its debts, said Branson.

"It was a rare opportunity, as I see it, for Global Knowledge to acquire the clear market leader in Canada in IT [information technology] and business skills and leadership training," Branson said.

Corporate tech-training company Global Knowledge will acquire Canada's leading corporate training firm, Nexient Learning, a business whose aggressive expansion left it with too much debt to withstand the recession.

The two companies announced today that Cary-based Global Knowledge has agreed to buy Nexient's assets for an undisclosed sum. Read Tuesday's exclusive post on the deal here.

Nexient recently filed for the Canadian equivalent of Chapter 11 bankruptcy, and the sale requires court approval. The deal is expected to be finalized "within the next two weeks, if not sooner," said Douglas Lawson, chief financial officer at Nexient.

Nexient has about 220 employees and generated $55.2 million in revenue last year by providing information technology and business courses to more than 100,000 trainees at 12 training sites across Canada.

Corporate tech-training company Global Knowledge has agreed to purchase the operations of the largest corporate training company in Canada, financially ailing Nexient Learning.

In an e-mail message to Global Knowledge employees, CEO Brian Branson wrote that the acquisition will combine the "talent and resources of both organizations."

The deal is still being finalized. A spokeswoman for Global Knowledge said the Cary-based company would have no comment on the deal until it was completed and publicly announced. Branson's e-mail did not disclose the terms of the deal.