Smartpros

In 1981, a new company called SmartPros was founded with a focus on professional education. Its business was straightforward: provide accredited continuing education for professionals in fields like accounting, finance, and law. For decades, SmartPros built a niche but solid enterprise, serving major accounting firms and Fortune 500 companies with a subscription library of thousands of hours of specialized training content. The company was a public entity, trading on NASDAQ under the ticker SPRO, and by 2014, it was generating over $13 million in annual revenue. While not a household name, SmartPros was a key player in the professional development marketplace. Its journey took a significant turn in the fall of 2015, when a major strategic buyer entered the picture. In October 2015, global education giant Kaplan, Inc. announced its intention to acquire SmartPros. The deal was a cash transaction valued at approximately $16.9 million. Led by its Chairman and CEO, Allen S. Greene, SmartPros was seen by Kaplan as a perfect domestic complement to its existing global accountancy training programs. The acquisition was completed in December 2015, taking the public company private and integrating it into the Kaplan Professional Education division, marking a quiet end to its independent journey and a strategic win for its new owner.