Phoenix Education Partners, Inc., the parent company of University of Phoenix, announced Thursday it has signed a definitive agreement to acquire Fuel50, Inc., an artificial intelligence-powered workforce transformation platform.

The deal brings together Fuel50’s workforce intelligence, talent marketplace and workforce planning tools with Phoenix Education’s focus on career-relevant education for working adults, the companies said. Fuel50 will continue to operate under its own brand and serve its existing enterprise customers after the transaction closes.

Chris Lynne, chief executive officer of Phoenix Education Partners, said the acquisition reflects confidence in Fuel50’s platform and vision as artificial intelligence changes the skills organizations need from their workforces.

Fuel50 co-founder and CEO Anne Fulton said the partnership would let the company connect workforce intelligence with workforce development at a larger scale, as employers face pressure to understand not just current employee skills but how roles are evolving.

Fuel50’s platform includes a Workforce Intelligence suite that gives employers data on workforce skills and talent needs, along with a Talent Marketplace that connects employees to career paths, open roles and training opportunities. The platform is built on a skills ontology encompassing more than 5,000 skills, according to the companies.

Jo Mills, Fuel50’s co-founder and president, is expected to become the company’s chief executive after the deal closes. Fuel50 will operate as a distinct business within Phoenix Education, the companies said.

The transaction is expected to close within 30 days, pending customary closing conditions including approval from Fuel50 stockholders. Macquarie Capital served as exclusive financial adviser to Fuel50.

Phoenix Education Partners is the parent company of University of Phoenix, an online university for working adults founded in 1976.