Like ESGI, LLC

closed 10/11/2019 via BusinessWire

Riverside Insights, acquired ESGI, LLC

See 101 Comparable Transactions
synopsis: Riverside Insights, a portfolio company of Alpine Investors, has acquired ESGI, a leading SaaS platform for administering, creating, tracking, and reporting teacher-led assessments of early childhood students. ESGI was founded with the mission to help teachers and administrators overcome the unique challenges of early childhood education.
buyer parent: Alpine Investors, LP
buyer: Riverside Insights
Riverside is a provider of educational and clinical assessments that play a key role in helping individuals elevate their learning potential by providing accurate and reliable data. Riverside is comprised of several iconic, leading brands such as Woodcock-Johnson, the Iowa Assessments, and CogAT. "
 target: ESGI, LLC
ESGI ("Educational Software for Guiding Instruction") is an industry-leading platform for conducting 1-on-1 assessments that guide instruction for early childhood students. ESGI assessments empower teachers with real-time student data in easy-to-read reports, graphs, parent letters, and flashcards.
price ($mm)
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closed 12/14/2006 via BusinessWire

Harcourt Assessment, Inc., acquired Edformation, Inc.

See 101 Comparable Transactions
synopsis: Leading test publisher Harcourt Assessment, Inc., announced that it has acquired Edformation, Inc., a privately held company offering its AIMSweb product to education customers. AIMSweb is a research-based screening and progress monitoring tool for use by special education teachers, curriculum specialists and school psychologists.
buyer parent: Reed Elsevier plc
buyer: Harcourt Assessment, Inc.
Harcourt Assessment, Inc. is a provider of high-quality assessment instruments and testing programs published under two brand names –– Harcourt Assessment and PsychCorp™. "
 target: Edformation, Inc.
Edformation, Inc. creates Standard Assessment probes, formative assessment materials and online monitoring and reporting software for use in K-12, Special Education, Adult Learning, Community Education, home school, charter schools, correctional facilities and other educational settings.
price ($mm)
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closed 6/8/2006 via PR Newswire

EdGate merged with EDmin.com, Inc.,

See 101 Comparable Transactions
synopsis: EDmin.com and Educational Gateways announced the merger of their two organizations under EDmin.com, Inc. Clients will immediately benefit from the merger through an increased breadth of products and services, faster implementation, and reduced training requirements. Teachers will have improved access to tools and resources.
buyer: EDmin.com, Inc.
Founded in 1989 as an educational technology company, EDmin.com, Inc. has become the dominant platform for learning management solutions that enable school districts and teachers to accelerate student learning and improve performance. "
 target: EdGate
EdGate provides K-12 solutions that improve student performance while providing a user friendly, secure, and personalized environment. EdGate’s suite of products is integrated, customizable, and delivered to the education community via the Internet.
price ($mm)
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closed 8/1/2005 via PR Newswire

McGraw-Hill Education, acquired Turnleaf

See 101 Comparable Transactions
synopsis: McGraw-Hill Education today announced the acquisition of TurnLeaf Solutions Inc., a national provider of customized online reporting and data analysis. TurnLeaf helps administrators and teachers track progress toward school districts' Adequate Yearly Progress goals, a key provision in the No Child Left Behind law.
buyer parent: The McGraw-Hill Companies, Inc.
buyer: McGraw-Hill Education
Founded in 1888, McGraw-Hill Education provides information via various media platforms: through books, magazines and newsletters; on-line over the Internet and electronic networks; via television, satellite and FM sideband broadcast; and through software, videotape, facsimile and CD-ROM products. "
 target parent: The McGraw-Hill Companies, Inc.
target: Turnleaf
TurnLeaf Solutions Inc. was founded in September of 1999, by educators for educators. The founding vision of the company is one of technology-enhanced instructional improvement as the pathway to higher student achievement. TurnLeaf immediately established a unique niche in the education market thro
price ($mm)
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closed 12/7/2018 via PE Hub

Think3, acquired School Loop, Inc.

See 571 Comparable Transactions
synopsis: Think3, has acquired School Loop Inc., a leading provider of Learning Management (LMS) and Content Management (CMS) solutions used by major K-12 school districts across the United States. This investment marks Think3’s entry into the education technology space, and will anchor an offering specific for schools.
buyer parent: ESW Capital, LLC
buyer: Think3
Think3 is a $1 billion private equity fund designed to enable SaaS founders to take more shots on goal. They purchase SaaS companies and enable a unique transition process that empowers founders and their teams to then launch their next startup. "
 target: School Loop, Inc.
School Loop is a mission-driven company providing communications, learning management, web site, and mobile app services to K-12 school districts. Founded by a teacher in 2004, School Loop serves over 4,000 schools in 30 states.
price ($mm)
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closed 5/20/2019 via BNC Analysis

Renaissance Learning, Inc., acquired Freckle Education

See 110 Comparable Transactions
synopsis: A year of vetting math tool after math tool came to an end with Renaissance announcing its acquisition of Freckle Education, a San Francisco-based company that offers online lessons, exercises and assessments for math, English language arts, social studies and science.
buyer parent: Francisco Partners Management LLC
buyer: Renaissance Learning, Inc.
Renaissance is a global leader in pre-K–12 educational technology, enabling teachers, curriculum creators, and educators to drive phenomenal student growth. Renaissance’s solutions help educators analyze, customize, and plan personalized learning paths for students. "
 target: Freckle Education
Freckle Education is a San Francisco-based company that offers online lessons, exercises and assessments for math, English language arts, social studies and science. Freckle currently claims more than 700,000 teachers and 10 million students have used the platform across 75,000 schools.
price ($mm)
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announced 6/19/2014 via BusinessWire

MasteryConnect, will acquire Socrative

See 110 Comparable Transactions
synopsis: Education technology leader MasteryConnect announced it is acquiring Socrative, a student response system that increases classroom engagement, for $5 million in cash and stock. The deal will add Socrative's real-time classroom assessment functionality to MasteryConnect's existing suite of cloud-based software and apps for learning in K-12 settings.
buyer: MasteryConnect
MasteryConnect is a market leader in curriculum, assessment and mastery learning tools for K-12. MasteryConnect supports teachers via its Mastery Learning Platform, as well as through their numerous apps on all Web-enabled devices. "
 target: Socrative
Socrative supports teachers in formatively assessing their students with educational activities on all Web-enabled devices; including tablets, laptops and smartphones.
price ($mm)
$5.00
rev ($mm)
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closed 2/3/2011 via

News Corporation, acquired Wireless Generation

See 104 Comparable Transactions
synopsis: News Corp. agreed to acquire 90 percent of education-technology provider Wireless Generation for about $360 million in cash, as Rupert Murdoch’s media company looks to expand in academics.
buyer: News Corporation (NWSA:$8,785.00)
News Corporation is a diversified entertainment company with operations in eight industry segments: filmed entertainment; television; cable network programming; direct broadcast satellite television; magazines and inserts; newspapers; book publishing; and other. "
 target parent: Seavest, Inc.
target: Wireless Generation
Wireless Generation creates innovative tools, systems, and services that help educators teach smarter. With its mobile assessment software, the company invented a better way to give classroom assessments and make data-based instructional decisions.
price ($mm)
$390*
rev ($mm)
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closed 7/16/2018 via GlobeNewswire

Showbie, acquired Socrative

See 106 Comparable Transactions
synopsis: Showbie, a classroom workflow app with millions of users around the globe, has acquired Socrative from MasteryConnect. Socrative is a classroom app for fun, effective classroom engagement. No matter where or how instructors teach, Socrative allows teachers to instantly connect with students as learning happens.
buyer: Showbie
Showbie is a classroom workflow app with millions of users around the globe. Founded in 2012, Showbie’s mission is to build tools to help teachers and students everywhere be more productive and creative in the paperless classroom. "
 target parent: MasteryConnect
target: Socrative
Socrative is a classroom app for fun, effective classroom engagement. No matter where or how instructors teach, Socrative allows teachers to instantly connect with students as learning happens.
price ($mm)
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closed 12/7/2020 via BNC Analysis

LEAD School, acquired QuizNext

See 152 Comparable Transactions
synopsis: LEAD School, a leading education technology company in India, has acquired QuizNext, a student assessment and practice platform in India. QuizNext is a gamified practice app that offers AI based practice quizzes for CBSE and ICSE students for grade 6-10th.
buyer: LEAD School
LEAD School is a leading education technology company in India. LEAD School offers an integrated system that aims to revolutionalise every child’s learning experience. Their system enables schools to deliver uninterrupted excellent learning, both online and in school. "
 target: QuizNext
QuizNext is a student assessment and practice platform in India. QuizNext is a gamified practice app that offers AI based practice quizzes for CBSE and ICSE students for grade 6-10th. The app provides personalized recommendations to drive students to practice three times a day.
price ($mm)
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closed 10/21/2020 via BusinessWire

Turnitin, acquired ExamSoft Worldwide, Inc.

See 95 Comparable Transactions
synopsis: Turnitin, a leading provider of academic integrity and assessment solutions, has acquired ExamSoft, a software-based assessment platform, from Spectrum Equity. ExamSoft empowers educational institutions and certification and licensure programs to protect exam integrity, streamline assessment processes, and improve learning outcomes.
buyer parent: Advance, Inc.
buyer: Turnitin
Turnitin is dedicated to ensuring the integrity of education and research and supporting the development of original thinking skills. Its products are used by educators to guide their students towards higher standards of integrity and by students and researchers to do their best, original work. "
 target parent: Spectrum Equity
target: ExamSoft Worldwide, Inc.
ExamSoft is an education technology company that builds scalable software solutions that provide the highest level of exam security and integrity to education and certification institutions across a variety of verticals, settings, and modalities.
price ($mm)
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closed 5/31/2006 via

Houghton Mifflin Company, purchased SkillsTutor from Achievement Technologies, Inc.

See 84 Comparable Transactions
synopsis: Houghton Mifflin Company announced an agreement with Achievement Technologies, Inc. (ATI), a privately held educational software solution and service company, to acquire all of ATI's research-based instructional products for $18.5 million in cash.
buyer parent: Houghton Mifflin Riverdeep Group PLC
buyer: Houghton Mifflin Company (HMHC:$1,322.42)
Houghton Mifflin is one of the leading educational publishers in the United States, publishing textbooks, instructional technology, assessments, and other educational materials for teachers and students of every age. "
 seller: Achievement Technologies, Inc.
Achievement Technologies is a privately held educational software solution and service company founded in the fall of 1999, focusing primarily on the K-12 school market with a secondary focus on the school-to-work and adult basic skills market.
price ($mm)
$23
rev ($mm)
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closed 4/23/2020 via PR Web

Thinkster, acquired SelectQ Corporation

See 126 Comparable Transactions
synopsis: Thinkster, the world leader in AI-driven Math tutoring for Kindergarten to 8th grade, has acquired SelectQ Corporation, an AI-driven educational technology platform. SelectQ offers quizzes and performance-based training for SATs, tailored to the needs and understanding levels of each student.
buyer: Thinkster
Thinkster is the world leader in AI-driven Math tutoring for Kindergarten to 8th grade. Thinkster combines the power of elite human tutors with a world-class curriculum and amazing AI and data-driven approach that is hyper-personalized for each student. "
 target: SelectQ Corporation
SelectQ is an AI-driven educational technology platform. SelectQ offers quizzes and performance-based training for SATs, tailored to the needs and understanding levels of each student. Their platform identifies strong and weak subjects for each student and provides customized improvement plans.
price ($mm)
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announced 4/3/2019 via BNC Analysis

Instructure, will acquire MasteryConnect

See 145 Comparable Transactions
synopsis: Instructure, the publicly traded company best known for its learning management systems (LMS) Canvas and Bridge, will acquire a fellow Salt Lake City-based education technology company, MasteryConnect. MasteryConnect offers a platform where teachers can plan lessons, create and deliver assessments, and track how students perform.
buyer: Instructure (INST:$245.53)
Instructure is a technology company that helps people learn and develop, from their first day of school to their last day of work. Its software solutions include Canvas, the learning platform that simplifies teaching, and Bridge, the employee development and engagement solution. "
 target: MasteryConnect
Founded in 2009, MasteryConnect offers a platform where teachers can plan lessons, create and deliver assessments, and track how students perform against academic standards. These tools offer real-time data that educators can use to inform their instruction.
price ($mm)
$43
rev ($mm)
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EV / rev
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announced 7/11/2013 via PR Newswire

Hobsons Inc., will purchase National Transcript Center from Pearson Data Solutions

See 102 Comparable Transactions
synopsis: Hobsons announced the acquisition from Pearson of National Transcript Center (NTC), the world's largest e-transcript exchange provider, serving more than 137,000 institutions that represent more than 14 million students. Pearson's NTC is a secure, browser-based application that instantly transfers electronic student records and transcripts.
buyer parent: Daily Mail and General Trust plc
buyer: Hobsons Inc.
Hobsons is a premier provider of innovative technology and integrated marketing solutions that empower education professionals to manage the entire student lifecycle, including recruitment, enrollment, and retention. "
 seller parent: Pearson plc
seller: Pearson Data Solutions
Pearson's National Transcript Center (NTC) is the world's largest e-transcript exchange provider, serving more than 137,000 institutions that represent more than 14 million students. NTC is a secure, browser-based application that instantly transfers electronic student records and transcripts.
price ($mm)
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closed 10/7/2014 via PR Newswire

Turnitin, acquired LightSide

See 122 Comparable Transactions
synopsis: Turnitin, the leaders in originality checking and online grading, announced the company has acquired LightSide Labs, an online service that uses machine learning to provide real-time, automated feedback on student writing.
buyer parent: Insight Venture Partners
buyer: Turnitin
Turnitin is the global leader in evaluating and improving student learning. The company's cloud-based service for originality checking, online grading and peer review saves instructors time and provides rich feedback to students. "
 target: LightSide
LightSide Labs is an educational technology company, dedicated to improving student writing skills. LightSide provides automated feedback and support for writers, redefining the role of automated assessment in the K-12 and higher education classroom.
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closed 7/22/2020 via Company Press Release

Discovery Education, acquired Spiral

See 82 Comparable Transactions
synopsis: Discovery Education—the global leader in standards-aligned digital curriculum resources, engaging content, and professional learning for K-12 classrooms—announced the acquisition of Spiral.  Based in the United Kingdom, Spiral provides educators a multiuse platform that supports collaborative learning and formative assessment both in the classroom
buyer parent: Francisco Partners Management LLC
buyer: Discovery Education
Discovery Education is the global leader in standards-aligned digital curriculum resources, engaging content, and professional learning for K-12 classrooms. Discovery Education is transforming teaching and learning, creating immersive STEM experiences, and improving academic achievement. "
 target: Spiral
Based in the United Kingdom, Spiral provides educators a multiuse platform that supports collaborative learning and formative assessment both in the classroom and the remote environment. Spiral contains many favourite formative assessment apps in one platform.
price ($mm)
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announced 5/20/2020 via BNC Analysis

Janison Education Group Limited, will purchase Educational Assessments from UNSW Global

See 82 Comparable Transactions
synopsis: Janison Education Group (JAN) has signed an agreement to acquire UNSW Global's Educational Assessments division. Educational Assessment's flagship product is the ICAS academic assessments which are used in 15 countries including Australia.
buyer: Janison Education Group Limited (ASX:JAN:$15.81)
Janison is an Australian-owned, ASX-listed education technology pioneer whose team of experts and developers innovate online assessment and learning solutions for global corporations, governments and education bodies. "
 seller parent: University of New South Wales
seller: UNSW Global
Educational Assessment's flagship product is the ICAS academic assessments which are used in 15 countries including Australia. Over the past three years, half of Australia's schools have bought Educational Assessments' products.
price ($mm)
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closed 12/11/2019 via BNC Analysis

Mentoring Minds, acquired SchoolSpire, Inc.

See 98 Comparable Transactions
synopsis: SchoolSpire, a Plano, Tx.-based developer of a K-12 instructional management system, has been acquired by Mentoring Minds, a provider of critical thinking resources and teaching materials for K-12 educators. Founded in 1999, SchoolSpire offers a suite of digital tools to manage curriculum resources, administer assessments and track results.
buyer: Mentoring Minds
Mentoring Minds is on a mission to put critical thinking at the center of K-12 education. Founded by teachers, Mentoring Minds provides print and digital resources that empower educators to infuse critical thinking skills into standards-based instruction. "
 target: SchoolSpire, Inc.
SchoolSpire is a Plano, Tx.-based developer of a K-12 instructional management system. SchoolSpire offers a suite of digital tools used by school leaders to manage curriculum resources, administer assessments and track results for reporting purposes. The company also offers a bank of question items.
price ($mm)
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closed 1/30/2019 via BNC Analysis

XSEED Education Pte. Ltd., acquired Report Bee

See 82 Comparable Transactions
synopsis: Singapore-based K-12 education company XSEED Education on has acquired India’s edtech startup Report Bee. Report Bee provides a cloud-based software solution that allows schools to assess, report and analyse the performance of individual students, classes and teachers.
buyer: XSEED Education Pte. Ltd.
XSEED Education is an innovative K-12 startup focused on enhancing school learning with high-quality proprietary curriculum, training, and assessment capability. XSEED is a proven and research based academic program for schools that builds thinking skills & problem solving confidence in children. "
 target: Report Bee
Founded in 2010 by Ananthraman Mani, Bala Ganesh S., and Anjan T., Report Bee is a cloud-based software solution that allows schools to assess, report, and analyse the performance of individual students, classes, and teachers.
price ($mm)
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Pages:  
closed 10/11/2019 via BusinessWire

Riverside Insights, acquired ESGI, LLC

See 101 Comparable Transactions
synopsis: Riverside Insights, a portfolio company of Alpine Investors, has acquired ESGI, a leading SaaS platform for administering, creating, tracking, and reporting teacher-led assessments of early childhood students. ESGI was founded with the mission to help teachers and administrators overcome the unique challenges of early childhood education.
buyer parent: Alpine Investors, LP
buyer: Riverside Insights
Riverside is a provider of educational and clinical assessments that play a key role in helping individuals elevate their learning potential by providing accurate and reliable data. Riverside is comprised of several iconic, leading brands such as Woodcock-Johnson, the Iowa Assessments, and CogAT. "
 target: ESGI, LLC
ESGI ("Educational Software for Guiding Instruction") is an industry-leading platform for conducting 1-on-1 assessments that guide instruction for early childhood students. ESGI assessments empower teachers with real-time student data in easy-to-read reports, graphs, parent letters, and flashcards.
price ($mm)
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closed 1/9/2020 via BusinessWire

Riverside Insights, acquired ImPACT Concussion Management

See 952 Comparable Transactions
synopsis: Riverside Insights, a provider of educational and clinical assessments and a portfolio company of Alpine Investors, has acquired ImPACT Applications, Inc., a leading provider of research-backed concussion assessments. ImPACT Applications offers the only FDA-cleared neurocognitive evaluation aid with concussion specific indications for ages 12-59.
buyer parent: Alpine Investors, LP
buyer: Riverside Insights
Riverside is a provider of educational and clinical assessments that play a key role in helping individuals elevate their learning potential by providing accurate and reliable data. Riverside is comprised of several iconic, leading brands such as Woodcock-Johnson, the Iowa Assessments, and CogAT. "
 target: ImPACT Concussion Management
ImPACT Applications, Inc. is the maker of ImPACT, ImPACT Pediatric, and ImPACT Quick Test, all FDA cleared Class I & II medical devices and software solutions that assist in the screening, assessment, and management of concussion.
price ($mm)
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closed 10/11/2019 via BusinessWire

Riverside Insights, acquired ESGI, LLC

See 101 Comparable Transactions
synopsis: Riverside Insights, a portfolio company of Alpine Investors, has acquired ESGI, a leading SaaS platform for administering, creating, tracking, and reporting teacher-led assessments of early childhood students. ESGI was founded with the mission to help teachers and administrators overcome the unique challenges of early childhood education.
buyer parent: Alpine Investors, LP
buyer: Riverside Insights
Riverside is a provider of educational and clinical assessments that play a key role in helping individuals elevate their learning potential by providing accurate and reliable data. Riverside is comprised of several iconic, leading brands such as Woodcock-Johnson, the Iowa Assessments, and CogAT. "
 target: ESGI, LLC
ESGI ("Educational Software for Guiding Instruction") is an industry-leading platform for conducting 1-on-1 assessments that guide instruction for early childhood students. ESGI assessments empower teachers with real-time student data in easy-to-read reports, graphs, parent letters, and flashcards.
price ($mm)
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closed 12/4/2019 via GlobeNewswire

Transom Capital Group, acquired Scantron Corporation

See 43 Comparable Transactions
synopsis: Transom Capital Group, an operations-focused middle-market private equity firm, has acquired Scantron Corporation, a global technology and services driven company whose experts provide comprehensive assessment and technology solutions. Scantron is a widely recognized brand world-wide with a history in delivering quality, accuracy, and reliability.
buyer: Transom Capital Group
Transom is an operations-focused private equity firm in the middle market with more than $500M in assets under management. The firm's methodology and industry expertise create improved operational efficiency, significant top-line growth, and distinctive outcomes. "
 target parent: MacAndrews & Forbes Holdings Inc.
target: Scantron Corporation
Scantron Corporation is a global, diversified company that empowers growth through intelligent, mission-critical assessment, technology, and data capture solutions for business, education, certification, and government clients around the world.
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announced 6/30/2015 via PR Newswire

Data Recognition Corporation, will acquire CTB/McGraw-Hill

See 37 Comparable Transactions
synopsis: Data Recognition Corporation (DRC), a leading provider of educational assessment services, announced it has agreed to acquire key assets of the CTB assessment business of McGraw-Hill Education. CTB/McGraw-Hill is a leader in testing with recognized products for online interim and formative, adult, and language proficiency assessment.
buyer: Data Recognition Corporation
Data Recognition Corporation provides full-service educational testing and assessment programs, large-scale survey research and data collection, and comprehensive digital and mailing document solutions. "
 target parent: Apollo Global Management
target: CTB/McGraw-Hill
CTB/McGraw-Hill has over an 85-year record of excellence in assessment, and serves more than 18 million students in all 50 states and 49 countries. CTB/McGraw-Hill is a leader in testing with recognized products for online interim and formative, adult, and language proficiency assessment.
price ($mm)
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announced 9/12/2018 via BusinessWire

Alpine Investors, LP, will purchase Riverside Clinical and Standardized Testing from Houghton Mifflin Harcourt

See 56 Comparable Transactions
synopsis: Alpine Investors, a software and services focused private equity firm, is to acquire the Riverside Clinical and Standardized Testing Portfolio of Houghton Mifflin Harcourt. This portfolio includes, among others, the well-regarded brands Cognitive Abilities Test (CogAT), Iowa Assessments, Woodcock Johnson, and Battelle Developmental Inventory (BDI).
buyer: Alpine Investors, LP
Alpine Investors is a software and services focused private equity firm that differentiates itself through its PeopleFirst strategy. It’s PeopleFirst strategy includes a CEO-in-Residence (CIR) program, where Alpine partners with CEOs first and places them into companies as part of the transaction. "
 seller: Houghton Mifflin Harcourt (HMHC:$1,387.60)
The acquisition includes the Riverside Clinical and Standardized Testing Portfolio of Houghton Mifflin Harcourt. This portfolio includes, among others, the well-regarded brands Cognitive Abilities Test (CogAT), Iowa Assessments, Woodcock Johnson, and Battelle Developmental Inventory (BDI).
price ($mm)
$140
rev ($mm)
$80
EBITDA ($mm)
EV / rev
1.8x
EV / EBITDA
closed 2/28/2018 via BusinessWire

Asteria Education, Inc., acquired ECS Learning Systems, Inc.

See 57 Comparable Transactions
synopsis: ECS Learning Systems, a leading integrated test prep company in Texas, announced Asteria Education, Inc. has acquired substantially all of the assets of ECS Learning Systems, Inc. ECS Learning Systems is the Integrated Standards Prep™ company publishing STAAR MASTER®, TestSMART® and Novel Units®.
buyer: Asteria Education, Inc.
The mission of Asteria Education, Inc. is to provide affordable high quality learning solutions to help all students achieve academic success. Asteria was created in 2017 and is actively pursuing acquisition opportunities in the education space. "
 target: ECS Learning Systems, Inc.
Founded in 1982 in San Antonio, Texas, ECS Learning Systems is the Integrated Standards Prep™ company publishing STAAR MASTER®, TestSMART® and Novel Units®. From the beginning, their company mission has been to create quality, innovative K-12 resources that make teaching easier.
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closed 9/29/2020 via GlobeNewswire

Arco Platform Limited, acquired Studos Software Ltda.

See 35 Comparable Transactions
synopsis: Sao Paulo-based Arco has acquired Studos Software Ltda., a Brazilian technology provider for personalized student assessment, data-based academic performance diagnostics, and AI-powered adaptive learning and test prep. The acquisition is part of Arco's strategy to acquire technology companies that increase the value of its learning systems.
buyer: Arco Platform Limited (ARCE:$143.99)
Brazil-based Arco aims to transform the way students learn. The company's data-driven learning, interactive content, and scalable curriculum allows students to personalize their learning experience with high-quality solutions while enabling schools to provide a broader approach to education. "
 target: Studos Software Ltda.
Studios is a Brazilian technology provider for personalized student assessment, data-based academic performance diagnostics, and AI-powered adaptive learning and test prep. Studios supplies K-12 schools with content and tools that enable teachers to create and grade online and offline assessments.
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announced 5/31/2016 via BNC Analysis

Levine Leichtman Capital Partners Inc., will acquire GL Education Group

See 53 Comparable Transactions
synopsis: Investcorp has announced that it has agreed to the sale of GL Education to private equity firm Levine Leichtman Capital Partners. The company’s integrated suite of assessments is used to measure children’s ability, track their progress in key subjects, and diagnose underlying factors affecting learning.
buyer: Levine Leichtman Capital Partners Inc.
Levine Leichtman Capital Partners ("LLCP") is a private investment firm that has managed approximately $7.5 billion of institutional capital since its inception. LLCP invests in middle market companies located in the United States and Europe. "
 target parent: Investcorp
target: GL Education Group
GL Education is a leading provider of educational assessments globally. The company’s integrated suite of assessments is used to measure children’s ability, track their progress in key subjects, and diagnose underlying factors affecting learning.
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closed 3/19/2012 via Company Press Release

Investcorp, acquired GL Education Group

See 53 Comparable Transactions
synopsis: Investcorp, the alternative investments specialist, announced that it has acquired GL Education Group, formerly Granada Learning Group, the leading UK provider of non-regulated pupil and school assessment solutions for primary and secondary schools, from Veronis Suhler Stevenson.
buyer: Investcorp (BAX:INVCORP:$452.00)
Investcorp is a global investment group with offices in London, New York and Bahrain. The firm has five lines of business: private equity investment, global hedge fund, technology investment, real estate investment, and Gulf growth capital. "
 target parent: Veronis Suhler Stevenson
target: GL Education Group
Based in London, GL Education Group, formerly Granada Learning, provides assessment products and services used by teachers to measure students' core abilities and to take decisions about their learning paths. The company comprises two business units: GL Assessment and GL Performance.
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closed 6/1/2006 via PR Newswire

Touchstone Applied Science Associates, acquired Questar Educational Systems

See 53 Comparable Transactions
synopsis: Touchstone Applied Science Associates, Inc. announced today it has acquired the larger, privately-held Questar Educational Systems, Inc. of Apple Valley, MN in a cash and stock transaction initially valued at $20 million with the opportunity to reach $32.5 million based on performance milestones.
buyer parent: Camden Partners Holdings, LLC
buyer: Touchstone Applied Science Associates (OTCPK:QUSA:$38.69)
Questar Educational Systems, Inc. provides educational assessment programs for the educational assessment industry in the United States. It provides solutions to the state and local education agencies and their testing programs. "
 target: Questar Educational Systems
Questar Educational Systems was incorporated in 2000 to meet the growing demand for quality products and services and the timely delivery of those products and services to support statewide educational assessment programs.
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announced 1/3/2020 via BNC Analysis

Aakash Educational Services Limited, will acquire Meritnation

See 119 Comparable Transactions
synopsis: Aakash Educational Services Ltd, a leading educational institution in India, will acquire a 66% stake in Meritnation from Info Edge, India’s premier online classifieds company. Meritnation is an Indian company that develops study content and assessment modules for students of classes I - XII. Meritnatio offers content for math, science and English.
buyer: Aakash Educational Services Limited
Aakash is a leading educational institution in India. Aakash provides comprehensive test preparatory services to students preparing for medical and engineering entrance exams, school/board exams, KVPY, NTSE, Olympiads and other Foundation level exams. "
 target parent: Info Edge
target: Meritnation
Meritnation is an Indian company that develops study content and assessment modules for students of classes I - XII. Meritnatio offers content for mathematics, science and English. They also offer online and offline test preparation modules for various undergraduate entrance examinations.
price ($mm)
$7.00*
rev ($mm)
$5
EBITDA ($mm)
EV / rev
2.2x
EV / EBITDA
closed 10/18/2010 via BusinessWire

Triumph Learning, acquired Educational Tools, Inc.

See 45 Comparable Transactions
synopsis: Triumph Learning, the market leader in state-specific, standards-focused education material that supports student instruction, said that it has acquired Educational Tools, Inc., the developer of the industry leading iCORE digital curriculum product for state-aligned and Common Core standards instruction.
buyer parent: Haights Cross Communications, LLC
buyer: Triumph Learning
Triumph Learning, a subsidiary of Haights Cross Communications, is the market leader in state-specific, standards-focused education material that supports student instruction. The company’s mission is to assist teachers in their goal to raise student achievement. "
 target: Educational Tools, Inc.
Educational Tools, Inc. is the creator and developer of iCORE, an industry leading digital curriculum tool for K-12 teachers nationwide. iCORE provides individualized instruction that is fully aligned to state specific standards for math, science, reading and social studies.
price ($mm)
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closed 5/13/2014 via BusinessWire

Link-Systems International, acquired ComFit Learning

See 46 Comparable Transactions
synopsis: Link-Systems International, Inc., a market leader in integrated, technology-based solutions for educators, announced that, through its wholly owned subsidiary CF Learning, LLC, it has completed its acquisition of the Comfit™ online learning business from Comfit, LLC, a Connecticut-based education company.
buyer: Link-Systems International
Link-Systems International, Inc. (LSI) is a market-leading software company that helps academic institutions create effective digital solutions for teaching and learning. LSI has created several unique and powerful software platforms that facilitate the sharing of content over the Internet. "
 target: ComFit Learning
ComFit Learning is an Internet-based education company that develops technology-supported instructional resources specifically designed to help educators reverse the increasingly worrisome trend of declining retention and graduation rates.
price ($mm)
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closed 10/6/2011 via Capital IQ

Cambium Learning Group, Inc., acquired Class.com, Inc.

See 146 Comparable Transactions
synopsis: Cambium Learning Group, Inc., a leading educational company focused primarily on serving the needs of at-risk and special student populations, announced that the Company has purchased the assets of Class.com, an industry-leading provider of online learning solutions.
buyer parent: Veronis Suhler Stevenson
buyer: Cambium Learning Group, Inc. (ABCD:$159.46)
Cambium Learning Group is the leading educational company focused primarily on serving the needs of at-risk and special student populations. The company operates three core divisions: Voyager, Sopris, and Cambium Learning Technologies. "
 target: Class.com, Inc.
Class.com equips educators with the tools to help every student succeed by providing schools and organizations with high-quality, research-based, online learning solutions that cater to the needs of 21st-century learners.
price ($mm)
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closed 4/28/2017 via BNC Analysis

Telegraph Media Group, acquired Gojimo

See 44 Comparable Transactions
synopsis: The Telegraph Media Group (TMG), the publisher of The Daily Telegraph and The Sunday Telegraph newspapers, has acquired exam preparation and revision app Gojimo in a move to reach out to and further engage a younger audience. Available on iOS, Android and the web, Gojimo claims to be the UK’s number one exam preparation app.
buyer: Telegraph Media Group
Telegraph Media Group (TMG) is a multi-media news publisher of the world-renowned, agenda-setting content found in its titles: The Daily Telegraph, The Sunday Telegraph, The Telegraph website and The Telegraph weekly world edition. "
 target: Gojimo
Gojimo is the leading test prep app for students in the UK and US. Students can access textbooks, study guides, and quizzes from the world's lead educational publishers on their mobile device or tablet.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
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closed 3/13/2017 via BNC Analysis

Aksia Group SGR, acquired Alpha Test Srl

See 56 Comparable Transactions
synopsis: Independent private equity firm Aksìa Group has acquired 70 per cent of Alpha Test, a Milan-based professional education company, specialising in books and courses for preparation for university admission tests.
buyer: Aksia Group SGR
Aksìa Group SGR S.p.A. is an asset management company specialized in private equity investments in mature and healthy companies. "
 target: Alpha Test Srl
Alpha Test is a Milan-based professional education company, specialising in books and courses for preparation at university admission tests.
price ($mm)
rev ($mm)
EBITDA ($mm)
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EV / EBITDA
closed 3/31/2017 via PR Newswire

ST Unitas Co. Ltd., acquired The Princeton Review

See 82 Comparable Transactions
synopsis: Match Group announced that it has completed its previously announced sale of all of its Non-dating business, which operates under the umbrella of The Princeton Review, to ST Unitas, a global education technology company. The Princeton Review is a leading tutoring, test prep and college admission services company.
buyer: ST Unitas Co. Ltd.
ST Unitas started in 2010 as an EduTech company with only 4 employees. ST Unitas provides effective learning contents and programs to assist preparation for university entrance exams or job searching to achieve people’s goals quicker. "
 target parent: IAC
target: The Princeton Review
The Princeton Review is a leading tutoring, test prep and college admission services company. It helps millions of college- and graduate school-bound students achieve their education and career goals through online and in-person courses delivered by a network of more than 4,000 teachers and tutors.
price ($mm)
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closed 3/10/2015 via BNC Analysis

Embibe, acquired 100 Marks

See 45 Comparable Transactions
synopsis: Leading education portal to prepare for competitive entrance tests Embibe.com announced the take-over of 100Marks, a student guidance platform for Indian Institute of Information Technology Joint Entrance Examination and All India Engineering Entrance Examination.
buyer: Embibe
Embibe.com is the flagship brand of Mumbai based company - Individual Learning Pvt Ltd., an education analytics consumer tech start-up. Embibe is a leading education portal to prepare for competitive entrance tests in India. "
 target: 100 Marks
100Marks is aiming to be one stop shop for education material online. 100Marks is a place where users can get access to free customized study plans and free preparation material for Indian Institute of Information Technology Joint Entrance Examination and All India Engineering Entrance Examination.
price ($mm)
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closed 5/21/2012 via

Charlesbank Capital Partners LLC, acquired Princeton Review Higher Education Readiness

See 82 Comparable Transactions
synopsis: In May 2012, Charlesbank purchased The Princeton Review with significant coinvestment from the management team. The Princeton Review is a leading provider of test preparation courses and materials for prospective undergraduate and graduate students.
buyer: Charlesbank Capital Partners LLC
Charlesbank Capital Partners is a middle-market private equity investment firm managing more than $2 billion of capital. Charlesbank focuses on management-led buyouts and growth capital financings, typically investing $50 million to $150 million per transaction. "
 target parent: Princeton Review Inc.
target: Princeton Review Higher Education Readiness
The Princeton Review Higher Education Readiness Division is a division of The Princeton Review, Inc. The Division has a leading share of test preparation books in the US and is known for its in-person and online test preparation courses, delivered through a network of over 5,000 teachers and tutors.
price ($mm)
$32
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/10/2019 via Company Press Release

Renaissance Learning, Inc., acquired myIGDIs

See 53 Comparable Transactions
synopsis: Renaissance, a global leader in pre-K–12 education technology, has acquired myIGDIs (Early Learning Labs), a provider of early childhood assessment and school-readiness screening tools. myIGDIs helps early childhood educators identify children at-risk of poor learning outcomes early and monitor development goals often.
buyer parent: Francisco Partners Management LLC
buyer: Renaissance Learning, Inc.
Renaissance is a global leader in pre-K–12 educational technology, enabling teachers, curriculum creators, and educators to drive phenomenal student growth. Renaissance’s solutions help educators analyze, customize, and plan personalized learning paths for students. "
 target: myIGDIs
myIGDIs (Early Learning Labs) is a provider of early childhood assessment and school-readiness screening tools. myIGDIs offers assessments for literacy and numeracy. myIGDIs helps early childhood educators identify children at-risk of poor learning outcomes early and monitor development goals often.
price ($mm)
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EV / rev
EV / EBITDA
closed 5/15/2018 via Company Press Release

Summit Partners, acquired Teaching Strategies, Inc.

See 455 Comparable Transactions
synopsis: L Squared Capital Partners is pleased to announce that it has closed on the sale of Teaching Strategies to Summit Partners. Teaching Strategies is the leading provider of early childhood educational resources, including curriculum and web-based assessment products.
buyer: Summit Partners
Summit Partners is a global alternative investment firm investing into growth equity, fixed income and public equity opportunities. Summit invests in growth sectors of the global economy and has invested in more than 460 companies in technology, healthcare, life sciences and other growth industries."
 target parent: L Squared Capital Partners
target: Teaching Strategies, Inc.
Teaching Strategies is the leading provider of early childhood educational resources, including curriculum and web-based assessment products. Teaching Strategies provides an essential product to the early childhood education sector helping millions of young children develop.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/28/2012 via Reuters

Malmberg, acquired Bureau ICE

See 44 Comparable Transactions
synopsis: Educational publisher Malmberg, part of Sanoma Learning has acquired and closed the acquisition of the testing and examination company Bureau ICE. Bureau ICE produces tests and exams for secondary and vocational education in the Netherlands. The acquisition is in line with Sanoma's strategy to focus on learning.
buyer parent: Sanoma Oyj
buyer: Malmberg
Malmberg is a leading educational publisher in the Netherlands and was founded in 1885. Malmberg publishes mixed media learning systems and educational tools for primary, secondary and vocational schools in the Dutch market. "
 target: Bureau ICE
Bureau ICE is a testing and examination company. Bureau ICE produces tests and exams for secondary and vocational education in the Netherlands.
price ($mm)
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