Like i-to-i Limited

closed 3/24/2021 via BNC Analysis

learndirect, acquired i-to-i Limited

synopsis: Training provider learndirect has acquired TEFL (Teaching English as a Foreign Language) specialist i-to-i. Leeds-based i-to-i provides online teaching training and sends its customers to countries including Vietnam, Thailand and China and has been trading for 25 years.
buyer parent: Stonebridge Colleges
buyer: learndirect
learndirect is the UK’s largest integrated training provider. They’ve changed the lives of many people, helping them get the skills they need for work and to progress in their careers. They’ve also supported organizations to improve the skills of their workforce. "
target: i-to-i Limited
Leeds-based i-to-i provides online teaching training and sends its customers to countries including Vietnam, Thailand and China and has been trading for 25 years. i-to-i is a TEFL (Teaching English as a Foreign Language) specialist.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 8/31/2020 via BNC Analysis

Quality Online Education Group Inc. will be merged with ADGS Advisory, Inc.,

synopsis: Quality Online Education Group Inc. (QOEG), a Canadian e-Learning company that specializes in providing real-time online small group classes English lessons to students in China, will merge with Hong Kong-based ADGS Advisory, Inc. The merger will allow QOEG to expand its education programs and build-out its e-Learning platform.
buyer: ADGS Advisory, Inc. (OTCPK:ADGS:$6.16)
ADGS Advisory, Inc.is a public company currently trading on the OTC Markets (ADGS). ADGS, through its subsidiaries, provides accounting, taxation, company secretarial, general corporate, and consultancy services in Hong Kong. "
target: Quality Online Education Group Inc.
Based in Canada, Quality Online Education Group, Inc. (QOEG) is a leading e-Learning company that provides comprehensive online English lessons to students in China. The company is a pioneer and industry leader in providing real-time online small group classes.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 12/14/2016 via Company Press Release

RareJob Inc., acquired Ripple Kids Park Co., Ltd.

synopsis: RareJob, a Japanese company that provides online English lessons, has acquired Ripple Kids Park, a company that specializes in providing online English lessons through Skype exclusively for kids. Ripple Kids Park offers one-on-one online English lessons to Japanese children, provided by teachers located in the Phillippines.
buyer: RareJob Inc. (TSE:6096:$30.81)
With the largest number of students, RareJob is the top online English school in Japan. They have provided over 10,000,000 lessons and have helped more than 10,000 Filipino tutors. They aim to provide the best learning experience to students and the most ideal working environment for their tutors. "
target: Ripple Kids Park Co., Ltd.
Ripple Kids Park is the first Japanese company to provide online English lessons exclusively for kids. They offer one-on-one online lessons tailored to each child. Students are able to easily learn at home and communicate with teachers in the Phillippines through Skype.
price ($mm)
$1.15
rev ($mm)
$1
EBITDA ($mm)
EV / rev
0.9x
EV / EBITDA
announced 9/10/2015 via Market Wire

EnglishCentral, Inc., will acquire Langrich

synopsis: EnglishCentral, the leading provider ofonline English conversation solutions, announced that it has entered into an agreement to acquire Langrich, a leading online English tutoring company in Japan.
buyer: EnglishCentral, Inc.
EnglishCentral is the “Youtube of English Language Learning.” Using authentic video content, they create a fun and effective way to learn to speak English using proprietary vocabulary and speech assessment technology. They are backed by Google Ventures, NTT DoCoMo Ventures, and SK Telecom. "
target: Langrich
Langrich is a leading online English tutoring company in Japan.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 3/27/2019 via PR Web

Alc Press Inc., acquired OKpanda

synopsis: ALC Press, a language-focused educational service provider in Japan, has acquired OKpanda, an English learning platform that includes instant messaging, live voice, and digital curricula. OKpanda connects English learners with amazing, certified ESL teachers who train users through the best of digital self learning content.
buyer parent: Freebit Co. Ltd.
buyer: Alc Press Inc.
ALC Press Inc. is a language-focused educational service provider in Japan. It engages in the planning, production, and sale of materials for distance learning in Japan. ALC Press provides language learning materials as well as learning courses over the internet. "
target: OKpanda
OKpanda is an English learning platform that includes instant messaging, live voice, and digital curricula. OKpanda connects English learners with amazing, certified ESL teachers who train users through the best of digital self learning content.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 5/21/2012 via BNC Analysis

Nippon Mirai Capital Co., Ltd., will acquire Alc Press Inc.

synopsis: ALC Press, a listed language-focused educational service provider, has approved a tender offer from Nippon Mirai Capital and plans to go private. ALC Press provides language learning materials as well as learning courses over the internet.
buyer: Nippon Mirai Capital Co., Ltd.
Nippon Mirai Capital Co., Ltd. is an independent investment fund. They focus on growing the enterprise value of their investments and sharing the value with stakeholders. "
target: Alc Press Inc.
ALC Press Inc. is a language-focused educational service provider. It engages in the planning, production, and sale of materials for distance learning in Japan.
price ($mm)[EV]
$35 [$46]*
rev ($mm)
$103
EBITDA ($mm)
$11
EV / rev
0.5x
EV / EBITDA
4.7x
closed 3/17/2021 via Company Press Release

Learnlight, acquired Intensive Business English S.R.L.

synopsis: Learnlight, the global B2B language and skills ed-tech platform backed by Beech Tree Private Equity, has acquired Intensive Business English (IBE), a leading Italian language training company. IBE specializes in providing blended language learning solutions to some of Italy’s biggest companies, operating from their headquarters in Milan.
buyer parent: Beech Tree Private Equity
buyer: Learnlight
Learnlight provides language, intercultural and soft skills training to blue chips and international organizations around the world. Learnlight uses a blend of cutting-edge technology and world-class instructor-led training to equip employees with the skills they need to succeed. "
target: Intensive Business English S.R.L.
Intensive Business English (IBE) is a leading language training company. IBE specializes in providing blended language learning solutions to some of Italy’s biggest companies, operating from their headquarters in Milan.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 10/23/2012 via BusinessWire

Pivotal Group, Inc., acquired Pan Am Education

synopsis: A Pivotal Group affiliate has acquired the assets of Pan Am Education, expediting the international expansion of the company. Pan Am founding management will maintain a stake in the company and continue day-to-day operations. Pan Am Education provides online blended learning solutions for students and education companies around the globe.
buyer: Pivotal Group, Inc.
Pivotal Group is a diversified investment company focused on private equity and real estate, particularly drawn by the unrealized potential of well-managed, middle-market companies with unique assets. "
target: Pan Am Education
Pan Am Education provides online blended learning solutions for students and education companies around the globe. Pan Am distributes its education services in 10 countries, including China, Korea, Brazil, Mexico, Turkey and the U.S. Its distribution network reaches over 5 million students.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 12/7/2018 via BNC Analysis

Kyoshin Co., Ltd., will acquire Dynamic Business College Co., Ltd.

synopsis: Kyoshin Co., Ltd., a Japanese company that operates cram schools in Japan, Germany, China, and the USA, will acquire Dynamic Business College (DBC), a language learning school in Japan. DBC offers beginner, intermediate, and advanced courses for learning and improving Japanese.
buyer: Kyoshin Co., Ltd. (TSE:4735:$162.12)
Kyoshin Co., Ltd. is a Japanese company that operates cram schools in Japan, Germany, China, and the USA. Their schools are aimed at primary to high school students. Kyoshin provides services for exam preparation, English language learning for young children, and Japanese language learning. "
target: Dynamic Business College Co., Ltd.
Founded in 1991, Dynamic Business College (DBC) is a language learning school in Japan. DBC offers beginner, intermediate, and advanced courses for learning and improving Japanese. DBC also offers exam prep courses for students that are at or above the intermediate level.
price ($mm)
$9.25
rev ($mm)
$3
EBITDA ($mm)
EV / rev
2.9x
EV / EBITDA
announced 2/24/2021 via BNC Analysis

Ataa Educational Company, will acquire Arabian Education and Training Group

synopsis: Ataa Educational Company, an educational company in Saudi Arabia, will acquire the Arabian Education and Training Group Co. (AETG), a company in Saudi Arabia that provides training for English, IT, management, and soft-skills. AETG provides training services through their subsidiaries, which include Al manahij Schools, PeoplePlus KSA, and more.
buyer: Ataa Educational Company (SASE:4292:$84.39)
Ataa Educational Company is one of the largest educational companies in Saudi Arabia. Ataa Educational Company operates private schools in seven locations around the Riyadh area. Their schools provide high quality education services to over 26,000 students. "
target: Arabian Education and Training Group
The Arabian Education and Training Group (AETG) is a company in Saudi Arabia that provides training for English, IT, management, and soft-skills. AETG provides training services through their subsidiaries. Their companies include Al manahij Schools, PeoplePlus KSA, NABA, and more.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 1/16/2019 via BNC Analysis

Active Learning Group, acquired Ardmore Language Schools Limited

synopsis: Major schools business Cognita, via its Active Learning Group division, has acquired Ardmore Language Schools, a veteran junior summer program business which has operations in both the UK and US. For over 30 years Ardmore has been helping students from all over the world live and learn the English language.
buyer parent: Cognita Schools, Ltd.
buyer: Active Learning Group
Active Learning Group is a portfolio of exciting brands, each of which specialise in experiential learning for children, spanning outdoor education for schools, and summer camps and daycare for children during the school holidays. "
target: Ardmore Language Schools Limited
For over 30 years Ardmore has been helping students from all over the world live and learn the English language. They pride themselves on delivering summer school programmes to the highest standards with a constant focus on student experience, safety and fun.​
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 8/20/2018 via BNC Analysis

Kyoshin Co., Ltd., will acquire English Language Company Australia Pty Ltd

synopsis: Kyoshin Co., Ltd., a Japanese company that operates cram schools in Japan, Germany, China, and the USA, will acquire English Language Company (ELC), an English language school in Sydney Australia. ELC's students learn English quickly and effectively following the most innovative and highest quality English language programs available.
buyer: Kyoshin Co., Ltd. (TSE:4735:$162.12)
Kyoshin Co., Ltd. is a Japanese company that operates cram schools in Japan, Germany, China, and the USA. Their schools are aimed at primary to high school students. Kyoshin provides services for exam preparation, English language learning for young children, and Japanese language learning. "
target: English Language Company Australia Pty Ltd
Founded in 2003, English Language Company (ELC) is a multi-award winning English language school in Sydney Australia. Students who study English at ELC learn English quickly and effectively following the most innovative and highest quality English language programs available.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 1/14/2020 via GlobeNewswire

UMeWorld Limited, will acquire Proud Kids

synopsis: Hong Kong education technology company UMeWorld Limited will acquire Proud Kids in an all-stock transaction. Based in Beijing, Proud Kids is a 1-on-4 online English language training startup catering to children aged 4-12 years old. Launched in March 2018, Proud Kids has delivered over 150,000 paid lessons using its 1-on-4 teaching model.
buyer: UMeWorld Limited (OTCPK:UMEW:$0.01)
UMeWorld is an educational technology company and a visionary player in the online educational landscape in China. UMFun, its K-12 flagship product, is a cloud-based assessment and learning analytics platform that can intelligently analyze and adapt to a student's performance and needs. "
target: Proud Kids
Proud Kids is a leading online English education platform in China. The company connects native English-speaking tutors from the UK, North America, and South Africa and young learners between 4-12 years old, as well as partnering local English teachers with native English-speaking tutors.
price ($mm)
rev ($mm)
$1
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 3/24/2021 via BNC Analysis

learndirect, acquired i-to-i Limited

synopsis: Training provider learndirect has acquired TEFL (Teaching English as a Foreign Language) specialist i-to-i. Leeds-based i-to-i provides online teaching training and sends its customers to countries including Vietnam, Thailand and China and has been trading for 25 years.
buyer parent: Stonebridge Colleges
buyer: learndirect
learndirect is the UK’s largest integrated training provider. They’ve changed the lives of many people, helping them get the skills they need for work and to progress in their careers. They’ve also supported organizations to improve the skills of their workforce. "
target: i-to-i Limited
Leeds-based i-to-i provides online teaching training and sends its customers to countries including Vietnam, Thailand and China and has been trading for 25 years. i-to-i is a TEFL (Teaching English as a Foreign Language) specialist.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 3/24/2021 via BNC Analysis

learndirect, acquired i-to-i Limited

synopsis: Training provider learndirect has acquired TEFL (Teaching English as a Foreign Language) specialist i-to-i. Leeds-based i-to-i provides online teaching training and sends its customers to countries including Vietnam, Thailand and China and has been trading for 25 years.
buyer parent: Stonebridge Colleges
buyer: learndirect
learndirect is the UK’s largest integrated training provider. They’ve changed the lives of many people, helping them get the skills they need for work and to progress in their careers. They’ve also supported organizations to improve the skills of their workforce. "
target: i-to-i Limited
Leeds-based i-to-i provides online teaching training and sends its customers to countries including Vietnam, Thailand and China and has been trading for 25 years. i-to-i is a TEFL (Teaching English as a Foreign Language) specialist.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/22/2018 via Company Press Release

Dimensions Training Solutions, acquired learndirect

synopsis: Dimensions Training Solutions (DTS), a leading training provider, has acquired the learndirect Group, UK's largest integrated training provider. learndirect helps people get skills needed for their careers and help organizations train their workforce.
buyer parent: Stonebridge Colleges
buyer: Dimensions Training Solutions
Based in the UK, Dimensions Training solutions is an organization that helps develop skills for apprenticeships, obtain a degree for Higher Education enrollment, and train workforce. They have a variety of courses for different fields. "
target parent: Lloyds Banking Group
target: learndirect
learndirect is the UK’s largest integrated training provider. They’ve changed the lives of many people, helping them get the skills they need for work and to progress in their careers. They’ve also supported organizations to improve the skills of their workforce.
price ($mm)
rev ($mm)
$227
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
announced 4/13/2018 via Company Press Release

PSI Services LLC, will purchase eAssessment Business from learndirect

synopsis: PSI Services LLC (PSI), a global workforce solution provider, will acquire the assets of learndirect’s eAssessment business. learndirect is the UK’s largest integrated training provider. The eAssessment business includes learndirect’s UK test centre network, technology and call centre along with all associated staff.
buyer parent: Waud Capital Partners, LLC
buyer: PSI Services LLC
PSI Services LLC (PSI) has 70 years of experience providing worldwide testing solutions to corporations, Federal and State government agencies, professional associations and certifying bodies. PSI offers a comprehensive solutions approach from test development to delivery to results processing. "
seller parent: Lloyds Banking Group
seller: learndirect
learndirect's eAssessment business includes learndirect’s UK test centre network, technology and call centre along with all associated staff. learndirect is the UK’s largest integrated training provider. The company has supported 75,000 organisations to improve the skills of their workforce.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 10/4/2011 via Company Press Release

LDC Limited, acquired learndirect

synopsis: LDC, the leading mid-market private equity arm of Lloyds Banking Group, has acquired the UK’s leading online learning provider learndirect. learndirect is the UK’s leading online learning provider. More than three million adults have taken a learndirect course since 2000.
buyer parent: Lloyds Banking Group
buyer: LDC Limited
LDC (Lloyds TSB Development Capital) is the private equity arm of the Lloyds Banking Group and is authorised and regulated by the Financial Services Authority. Since 1981 LDC has completed over 400 investments and has ongoing interests in over 70 businesses across the UK. "
target: learndirect
learndirect is the UK’s leading online learning provider. More than three million adults have taken a learndirect course since 2000. With their online courses, learndirect learners can choose where and when they want to learn – whether at home, at work or in a learndirect centre.
price ($mm)
$62
rev ($mm)
$219
EBITDA ($mm)
EV / rev
0.3x
EV / EBITDA
closed 3/24/2021 via BNC Analysis

learndirect, acquired i-to-i Limited

synopsis: Training provider learndirect has acquired TEFL (Teaching English as a Foreign Language) specialist i-to-i. Leeds-based i-to-i provides online teaching training and sends its customers to countries including Vietnam, Thailand and China and has been trading for 25 years.
buyer parent: Stonebridge Colleges
buyer: learndirect
learndirect is the UK’s largest integrated training provider. They’ve changed the lives of many people, helping them get the skills they need for work and to progress in their careers. They’ve also supported organizations to improve the skills of their workforce. "
target: i-to-i Limited
Leeds-based i-to-i provides online teaching training and sends its customers to countries including Vietnam, Thailand and China and has been trading for 25 years. i-to-i is a TEFL (Teaching English as a Foreign Language) specialist.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/4/2021 via GlobeNewswire

UpGrad, acquired KnowledgeHut

synopsis: Global online higher education provider upGrad has acquired KnowledgeHut, a global EdTech company. Founded in 2011, KnowledgeHut is aimed at equipping the global workforce with the skills of the future through outcome-based immersive learning. With this acquisition, upGrad will have access to KnowledgeHut’s global student pool of 250,000.
buyer: UpGrad
UpGrad is an online higher education platform in India that provides rigorous industry relevant programs designed and delivered in collaboration with world-class faculty and industry. UpGrad merges the latest technology, pedagogy and services to create an immersive learning experience. "
target: KnowledgeHut
KnowledgeHut is a global ed-tech company. Leveraging an immersive learning experience platform, KnowledgeHut is fundamentally disrupting the way tech is learnt and empowering enterprises with a scalable tech-driven solution to align role-based skill requirements with desired business outcomes.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/4/2021 via BNC Analysis

Astronaut, acquired POPSkul

synopsis: Astronaut, a mobile-first recruitment platform in Indonesia, has acquired POPSkul, an on-demand skill certification platform in Indonesia. POPSkul provides a fast and easy way to get certified. The platform offers online certification tests for English language proficiency, business communications, information technology, and more.
buyer: Astronaut
Astronaut is a mobile-first recruitment platform in Indonesia. Astronaut enables companies to effectively pick candidates from a larger pool of applicants. Their platform allows users to create Q&A sessions with video-selfies and collaborate with their team to decide and make accurate hires. "
target: POPSkul
POPSkul is an on-demand skill certification platform in Indonesia. POPSkul provides a fast and easy way to get certified. The platform offers online certification tests for English language proficiency, business communications, information technology, and more.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 7/28/2021 via BNC Analysis

Byju's, acquired Great Learning

synopsis: Byju’s, India’s largest Ed-tech company, has acquired Great Learning, one of India’s leading ed-tech companies for professional and higher education. Great Learning offers online certification courses from top universities. They provide programs for data science & business analytics, AI, management, cloud computing, digital marketing, and more.
buyer: Byju's
Based in India, Byju’s is India’s largest Ed-tech company and the creator of India’s largest K12 learning app which offers highly adaptive, engaging and effective learning programs for students in classes 4-12 (K-12) and competitive exams like JEE, NEET, CAT, IAS, GRE and GMAT. "
target: Great Learning
Great Learning is one of India’s leading ed-tech companies for professional and higher education. Great Learning offers online certification courses from top universities. They provide programs for data science & business analytics, AI, management, cloud computing, digital marketing, and more.
price ($mm)
$600
rev ($mm)
$44
EBITDA ($mm)
EV / rev
13.7x
EV / EBITDA
announced 7/20/2021 via Company Press Release

Blackstone Group LP, will acquire Simplilearn

synopsis: Blackstone announced that private equity funds managed by Blackstone have entered into a definitive agreement to acquire a controlling stake in Simplilearn Solutions Pvt. Ltd., a leading online learning ‘bootcamp’ based in India offering digital skills training and courses to working professionals all over the world.
buyer: Blackstone Group LP (BX:$17,325.04)
Blackstone is one of the world's leading investment firms. Their asset management businesses, with over $649 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds. "
target: Simplilearn
Simplilearn is the world’s #1 online bootcamp and one of the world’s leading certification training providers. They partner with companies and individuals to address their unique needs, providing training and coaching that helps working professionals achieve their career goals.
price ($mm)
$250
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/15/2021 via Company Press Release

Prosus N.V., acquired GoodHabitz B.V.

synopsis: Prosus N.V., a global consumer internet group, has acquired a majority stake in GoodHabitz B.V., a European provider of online training for businesses. Headquartered in the Netherlands, GoodHabitz provides enterprise clients with a broad range of cost-effective soft skills, such as leadership and management skills and digital learning content.
buyer: Prosus N.V. (ENXTAM:PRX:$4,086.00)
Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities. "
target: GoodHabitz B.V.
Based in the Netherlands, GoodHabitz provides enterprise clients with a broad range of cost-effective soft-skills, such as leadership and management skills and digital learning content relevant to their entire employee base. The company offers 150 courses that are available across eight languages.
price ($mm)
$257
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 5/5/2021 via BNC Analysis

360training.com, acquired VanEd

synopsis: 360training, the nation’s leader in providing online, regulatory-approved training for real estate and many other verticals, is pleased to announce its acquisition of VanEd (Van Education Center), an established, online education provider for real estate, appraisal, and broker licensing. VanEd is based in Boulder, Colorado.
buyer: 360training.com
For over 23 years, 360training has provided individuals and businesses with online, regulatory-approved training to facilitate a safe, healthy environment for the communities they serve. They have delivered over four million training plans across multiple brands, including OSHA.com. "
target: VanEd
In 1997, Vann Hilty founded VanEd (Van Education Center) with the mission of creating the highest quality online real estate school. Since then, VanEd has provided students with agent, broker, and appraiser training courses that satisfy the requirements of the real estate and appraisal industries.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 3/31/2021 via BNC Analysis

Unacademy, acquired Handa Ka Funda

synopsis: Unacademy, India's largest education platform, has acquired Handa Ka Funda, a leading online course provider in India. Handa Ka Funda has online coaching courses for CAT, XAT, IBPS PO, SBI PO, and other competitive exams. They offer video tutorials, live classes, ebooks, solved examples and a question database to help people pass their exams.
buyer: Unacademy
Unacademy is India's largest education platform, offering over 2,400 online lessons and specialised courses to prepare for various competitive exams. Through Unacademy's mobile app, users can attend live classes by top educators and prepare via Live Test Series, Quizzes, Practice Section, and more. "
target: Handa Ka Funda
Handa Ka Funda is a leading online course provider in India. Handa Ka Funda has online coaching courses for CAT, XAT, IBPS PO, SBI PO, and various other competitive exams. They offer video tutorials, live classes, ebooks, solved examples and a huge question database to help people pass their exams.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 4/6/2021 via GlobeNewswire

Vista Equity Partners, acquired Pluralsight

synopsis: Pluralsight, Inc., the technology workforce development company, has been acquired by Vista Equity Partners, a leading global investment firm focused on enterprise software, data and technology-enabled business.
buyer: Vista Equity Partners
Vista is a leading global investment firm with more than $73 billion in assets under management. The firm exclusively invests in enterprise software, data, and technology-enabled organizations across private equity, credit, public equity, and permanent capital strategies. "
target: Pluralsight (NasdaqGS:PS:$375.69)
Pluralsight is the leading technology workforce development company that helps companies and teams build better products by developing critical skills, improving processes, and gaining insights through data, and providing strategic skills consulting.
price ($mm)[EV]
$3,715 [$3,885]
rev ($mm)
$376
EBITDA ($mm)
EV / rev
10.5x
EV / EBITDA
closed 10/28/2020 via BNC Analysis

Magalu, acquired ComSchool

synopsis: Magazine Luiza (Magalu) announced the purchase of the ComSchool course platform, seeking to expand and strengthen the business capacity of the 32 thousand sellers registered in its marketplace. Founded in 2008, ComSchool offers around 200 courses in the areas of digital marketing, e-commerce and social networks.
buyer: Magalu (BOVESPA:MGLU3:$6,515.13)
Magazine Luiza (Magalu) is one of Brazil's largest retailers, operating through physical stores and website. Magalu operates over 880 stores and 9 distribution centers. Magalu also offers complementary products and financial services such as consumer credit, insurance and consortium. "
target: ComSchool
Based in Brazil, ComSchool is specialized in ecommerce, social media and digital marketing training programs. Their professors are book authors, C-Level, Agency owners, consultants and multinational companies directors. Comschool broadcasts their courses worldwide.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/9/2020 via GlobeNewswire

LRN, acquired Interactive Services Limited

synopsis: Ethics and compliance education and technology company LRN Corporation has acquired Interactive Services, the Ireland-based global compliance and online learning firm. The combined organization will help companies build and implement effective compliance programs and foster values-based and ethical cultures and workforces.
buyer parent: Leeds Equity Partners
buyer: LRN
LRN has helped over 25 million people at more than 700 companies worldwide simultaneously navigate complex legal and regulatory environments and make ethical decisions. LRN has also helped hundreds of companies foster ethical, responsible, and inclusive cultures. "
target: Interactive Services Limited
Based in Dublin, Interactive Services provides award-winning learning solutions to the biggest brands in the world. Alongside the fastest growing ethics & compliance content library solution in the marketplace, the company also offers creative custom online and person-to-person learning design.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 9/9/2020 via Company Press Release

Eleven Paths, acquired iHackLabs

synopsis: ElevenPaths, a global cybersecurity company, has acquired iHackLabs, a UK-based company specialised in cybersecurity training. iHackLabs offers courses that protect businesses and accelerate careers. Their cloud-based training programs simulate real cyber threat situations, adapted to the specific needs of clients across multiple sectors.
buyer parent: Telefonica S.A.
buyer: Eleven Paths
ElevenPaths is a global cybersecurity company that supports their customers with their digital transformation process. ElevenPaths offers products and services for device security, network and application security, cloud and data security, identity access management, and online security. "
target: iHackLabs
iHackLabs is a UK-based company specialised in cybersecurity testing and training. iHackLabs offers courses that protect businesses and accelerate careers. Their cloud-based training programs simulate real cyber threat situations, adapted to the specific needs of clients across multiple sectors.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 8/19/2020 via BNC Analysis

Snopsis, acquired Elevate Financial Training

synopsis: Snopsis is a technology company focused on helping small business owners overcome their financial challenges, announced the acquisition of Elevate Financial Training, a leader in financial training courses focused on improving profitability and cash flow in businesses.
buyer: Snopsis
Snopsis is a patent-pending Social Financial Platform that will integrate with accounting software like QuickBooks® Online, Xero and Sage. Snopsis clients are small business owners, who are pre-CFO, that need financial guidance. "
target: Elevate Financial Training
Elevate Financial Training offers a variety of courses all focused on boosting profitability and cash flow in businesses. The Elevate Financial Training courses include business financial training, financial analysis training, business cash flow, and more.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 6/17/2020 via PR Newswire

Zhengdong Zhu and Baohong Yin, will acquire China Distance Education Holdings Limited

synopsis: China Distance Education Holdings Limited, a leading provider of online education and value-added services for professionals and corporate clients in China, will have all outstanding ordinary shares acquired by its co-founders Mr. Zhengdong Zhu, chairman of the Board and chief executive officer, and Ms. Baohong Yin, deputy chairman of the Board.
buyer: Zhengdong Zhu and Baohong Yin
Zhengdong Zhu is the co-founder, Chairman of the Board and chief executive officer of China Distance Education Holdings Limited. Baohong Yin is the co-founder and deputy chairm of the board of China Distance Education Holdings Limited. "
target: China Distance Education Holdings Limited (DL:$223.74)
China Distance Education Holdings Limited is a provider of online education and value-added services for professionals and corporate clients in China. The courses offered through its websites help professionals seeking to obtain and maintain professional licenses and to enhance their job skills.
price ($mm)[EV]
$188 [$111]*
rev ($mm)
$224
EBITDA ($mm)
$59
EV / rev
1.3x
EV / EBITDA
4.8x
closed 5/13/2020 via Company Press Release

Proofpoint, Inc., acquired The Defence Works

synopsis: Proofpoint, a leading cybersecurity company, has acquired The Defence Works, an England-based security awareness company. The Defence Works provides GCHQ-certified security awareness training services to businesses around the world. Their bite-sized training modules covers everything from the basics to the biggest cyber battles a business can face.
buyer: Proofpoint, Inc. (PFPT:$1,088.07)
Proofpoint, Inc. is a leading cybersecurity company that protects organizations’ greatest assets and biggest risks: their people. With an integrated suite of cloud-based solutions, Proofpoint helps companies stop targeted threats, safeguard data, and make users more resilient against cyber attacks. "
target: The Defence Works
The Defence Works is an England-based security awareness company. The Defence Works provides GCHQ-certified security awareness training services to businesses around the world. Their bite-sized training modules covers everything from the basics to the biggest cyber battles a business can face.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 2/25/2020 via Company Press Release

Adviqo GmbH, acquired Kang SAS

synopsis: Germany-based Adviqo Group, Europe’s leading provider of live advice, has acquired a majority stake in Kang, an online platform for professional advice headquartered in Paris, from Truffle Capital. With the addition of Kang, the Adviqo Group continues to deliver on its goal to become the world’s leading provider of live advice services.
buyer: Adviqo GmbH
Adviqo is a Germany based media house and international leader in the esoteric marketplace. The group operates digital marketplaces for the monetization of life coaching, astrology, and psychic readings, and develops solutions to connect with specialists via phone or live chat. "
target parent: Truffle Capital
target: Kang SAS
Kang is an online platform for professional advice based in France. The company specializes in publishing LIVE multi-media services, including web, mobile, tablets, and TV & radio. Kang also boasts a successful and seamlessly integrated network of online platforms in Italy and Spain.
price ($mm)
rev ($mm)
$18
EBITDA ($mm)
EV / rev
0.0x
EV / EBITDA
closed 1/8/2020 via BNC Analysis

Lupa Systems, acquired Harappa Learning Private Limited

synopsis: James Murdoch's investment vehicle Lupa Systems has acquired a majority stake in Harappa Education Pvt. Ltd., an Indian online learning startup. Harappa, founded by Sinha and Shreyasi Singh in 2018, has a curriculum of at least 25 skills, which it delivers through an online-first approach. This marks Lupa Systems' first ever investment in India.
buyer: Lupa Systems
Lupa Systems, founded in 2019 by James Murdoch, son of media baron Rupert Murdoch, is a private investment vehicle which has invested in Tribeca Enterprises, Vice Media and The Void, among others. Lupa Systems is a private holding company with offices in New York and Mumbai. "
target: Harappa Learning Private Limited
Harappa Education Pvt. Ltd. is an Indian online learning startup. Harappa, founded by Sinha and Shreyasi Singh in 2018, has a curriculum of at least 25 skills, which it delivers through an online-first approach. Its services address core gaps in education systems.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
announced 9/4/2019 via PR Newswire

Chegg, Inc., will acquire Thinkful, Inc.

synopsis: Chegg, Inc, the leading student-first connected learning platform, will acquire Thinkful, an online learning platform that offers professional courses directly to students. Thinkful provides 1-on-1 learning through its network of industry experts and online platform to deliver a structured and flexible education in Web Development and Data Science.
buyer: Chegg, Inc. (CHGG:$445.11)
Chegg is the leading student-first connected learning platform. Chegg is the #1 provider of digital and physical textbook rental services. They allow students to rent or buy textbooks at competitive prices. The company also provides student services such as homework help, online tutoring, and more. "
target: Thinkful, Inc.
Thinkful is a new type of school that brings high-growth tech careers to ambitious people everywhere. The company provides 1-on-1 learning through its network of industry experts, hiring partners, and online platform to deliver a structured and flexible education in Web Development and Data Science.
price ($mm)
$80
rev ($mm)
$14
EBITDA ($mm)
EV / rev
7.1x
EV / EBITDA
closed 8/22/2019 via BNC Analysis

C6 Bank, acquired Idea9

synopsis: C6 Bank, a Brazilian digital bank, has acquired the Sao Paulo based startup IDEA9, a Corporate Education Platform focused on personal finance, leadership, and management. With the acquisition, C6 aims to intensify the training of its consultants, especially those focused on selling financial products to small and medium enterprises.
buyer: C6 Bank
Brazil-based C6 Bank is a digital bank without physical branches aiming to change people's experience with financial services by offering unique services and advantages. C6 uses cards with Contactless technology to allow transactions without inserting a card into a machine or entering a password. "
target: Idea9
Brazil-based IDEA9 is a modern and dynamic Corporate Education Platform, ideal for those who want to improve, expand their knowledge or develop new skills and competences. IDEA9 focuses on personal finance, leadership, and management.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA
closed 6/12/2019 via BNC Analysis

Manipal ProLearn, acquired Jigsaw Academy Education Private Limited

synopsis: Manipal Education & Medical Group (MEMG) has acquired Jigsaw Academy, an online analytics and big data trainer for professionals and students. Jigsaw Academy will become part of Manipal ProLearn, which offers certification courses across technology, digital marketing, data sciences, project management and finance.
buyer parent: Manipal Education & Medical Group International
buyer: Manipal ProLearn
Manipal ProLearn, part of Manipal Global Education Services Pvt. Ltd, offers certification courses across technology, digital marketing, data sciences, project management and finance. Manipal ProLearn helps working professionals and students enhance their skills and fast-track their careers. "
target: Jigsaw Academy Education Private Limited
Jigsaw Academy is a global award-winning online analytics and big data training provider. Jigsaw Academy is a group of data scientists and educators who are on a mission to train the next generation of analytics practitioners.
price ($mm)
rev ($mm)
EBITDA ($mm)
EV / rev
EV / EBITDA

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Geography
Matching Companies
Ticker: TSE:6096
 
 
 
 
 
 
 
 
RareJob Inc.
With the largest number of students, RareJob is the top online English school in Japan. They have provided over 10,000,000 lessons and have helped more than 10,000 Filipino tutors. They aim to provide the best learning experience to students and the most ideal working environment for their tutors.
year
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rev ($mm)
$30.81
EBITDA ($mm)
$2.73
EBIT ($mm)
$1.24
Net Income ($mm)
$0.44
Employees
523
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Ticker: TSE:4735
 
 
 
 
 
 
 
 
Kyoshin Co., Ltd.
Kyoshin Co., Ltd.
Kyoshin Co., Ltd. is a Japanese company that operates cram schools in Japan, Germany, China, and the USA. Their schools are aimed at primary to high school students. Kyoshin provides services for exam preparation, English language learning for young children, and Japanese language learning.
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rev ($mm)
$162.12
EBITDA ($mm)
$12.17
EBIT ($mm)
$4.76
Net Income ($mm)
$4.86
Employees
1463
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Ticker: DL
 
 
 
 
 
 
 
 
China Distance Education Holdings Limited
China Distance Education Holdings Limited
China Distance Education Holdings Limited is a leading provider of online education in China focusing on professional education. Their courses are designed to help professionals seeking to obtain and maintain professional licenses and to enhance job skills.
year
2020
rev ($mm)
$223.74
EBITDA ($mm)
$49.25
EBIT ($mm)
$33.32
Net Income ($mm)
$25.76
Employees
2197
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Ticker: SEHK:2371
 
 
 
 
 
 
 
 
China Chuanglian Education
China Chuanglian Education
China Chuanglian Education is engaged in the online education business and internet advertisement industry in the PRC. The Group owns cross-media platform that facilitates online training, smart management of online education and exchange of education resources.
year
2015
rev ($mm)
$14.79
EBITDA ($mm)
($0.53)
EBIT ($mm)
($2.12)
Net Income ($mm)
Employees
151
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Ticker: TSXV:ATW
 
 
 
 
 
 
 
 
AtmanCo
AtmanCo
AtmanCo is a leader in the psychometrics industry. The company offers psychometric tests online for the purposes of recruitment and hiring. AtmanCo's mission is to boost a organization's productivity, performance and prosperity by focusing on the their most important assets: their employees.
year
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rev ($mm)
$2.28
EBITDA ($mm)
($1.24)
EBIT ($mm)
($1.29)
Net Income ($mm)
Employees
0
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Ticker: TSE:6096
 
 
 
 
 
 
 
 
RareJob Inc.
With the largest number of students, RareJob is the top online English school in Japan. They have provided over 10,000,000 lessons and have helped more than 10,000 Filipino tutors. They aim to provide the best learning experience to students and the most ideal working environment for their tutors.
year
2018
rev ($mm)
$30.81
EBITDA ($mm)
$2.73
EBIT ($mm)
$1.24
Net Income ($mm)
$0.44
Employees
523
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Ticker: CEU
 
 
 
 
 
 
 
 
China Education Alliance, Inc.
China Education Alliance, Inc.
China Education Alliance, Inc. is a fast-growing, leading, China-based company offering high-quality education resources and services to students ages 6 to 18 and adults (university students and professionals) ages 18 and over.
year
2010
rev ($mm)
$46.27
EBITDA ($mm)
$18.27
EBIT ($mm)
$16.58
Net Income ($mm)
$15.26
Employees
409
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Ticker: NYSE:GPX
 
 
 
 
 
 
 
 
GP Strategies Corporation
GP Strategies Corporation
GP Strategies is a global performance improvement solutions provider of training, eLearning solutions, management consulting and engineering services. They improve the effectiveness of organizations by delivering innovative and superior training, consulting and business improvement services.
year
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rev ($mm)
$459.38
EBITDA ($mm)
$29.40
EBIT ($mm)
$22.22
Net Income ($mm)
$10.09
Employees
4343
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Ticker: ASX:SAI
 
 
 
 
 
 
 
 
SAI Global Limited
SAI Global Limited
SAI Global helps organisations proactively manage risk to achieve business excellence, growth, sustainability and create trust. Their solutions include risk management software, standards and regulatory content, ethics and compliance learning, risk assessments, certification, testing and audits.
year
2016
rev ($mm)
$436.24
EBITDA ($mm)
$90.89
EBIT ($mm)
$62.76
Net Income ($mm)
$40.55
Employees
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Ticker: TEDU
 
 
 
 
 
 
 
 
Tarena
Tarena
Tarena International, Inc. is a leading provider of professional education services in China. Through its innovative education platform combining live distance instruction, classroom-based tutoring and online learning modules, Tarena offers professional education courses in twelve IT subjects.
year
2017
rev ($mm)
$312.82
EBITDA ($mm)
$38.34
EBIT ($mm)
$26.81
Net Income ($mm)
$29.29
Employees
6257
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Ticker: ASX:ASH
 
 
 
 
 
 
 
 
Ashley Services Group Limited
Ashley Services Group Limited
Based in Australia, Ashley Services Group deliver high-quality services and tailored solutions to students, job-seekers, workers and employers alike through a number of leading brands across three key divisions. These divisions are labor hire, recruitment, and training.
year
2020
rev ($mm)
$241.76
EBITDA ($mm)
$6.33
EBIT ($mm)
$5.55
Net Income ($mm)
$3.35
Employees
60
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Ticker: SASE:4290
 
 
 
 
 
 
 
 
Al-Khaleej Training & Education
Al-Khaleej Training & Education
Riyadh-based Alkhaleej offers training and education for IT, English, management and focuses on the establishment and management of schools as well as the operation and maintenance of computer software from the installation of networks and infrastructure and communication systems, and more.
year
2020
rev ($mm)
$230.30
EBITDA ($mm)
$26.22
EBIT ($mm)
$20.64
Net Income ($mm)
$15.07
Employees
0
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Ticker: A008600
 
 
 
 
 
 
 
 
The Willbes & CO., Ltd.
The Willbes & CO., Ltd.
Headquartered in Cheonan, South Korea, The Willbes & CO., Ltd. engages in manufacture and sale of apparel. The company offers knit wear, sweater, woven wear, swim wear, and microfiber products. Willbes also provides postgradutate training for individuals looking for a professional job.
year
2015
rev ($mm)
$216.66
EBITDA ($mm)
$15.11
EBIT ($mm)
$5.88
Net Income ($mm)
$1.24
Employees
199
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Ticker: OM:BTS B
 
 
 
 
 
 
 
 
BTS Group AB
BTS Group AB
BTS Group is a global strategy implementation consulting firm founded in 1986. The company provides strategy alignment and execution consulting services and designs customized business simulations, digital technology, and assessments to develop business acumen, leadership, and sales capabilities.
year
2021
rev ($mm)
$189.65
EBITDA ($mm)
$23.21
EBIT ($mm)
$18.65
Net Income ($mm)
$11.81
Employees
918
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Ticker: FC
 
 
 
 
 
 
 
 
Franklin Covey Co.
Franklin Covey Co.
Franklin Covey Co. is a global company specializing in performance improvement. They help organizations achieve results that require a change in human behavior. Their expertise is in seven areas: leadership, execution, productivity, trust, sales performance, customer loyalty and education.
year
2021
rev ($mm)
$182.59
EBITDA ($mm)
$17.40
EBIT ($mm)
$5.99
Net Income ($mm)
Employees
940
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Ticker: LSE:WIL
 
 
 
 
 
 
 
 
Wilmington plc
Wilmington plc
Wilmington plc is a dynamic and expanding group of companies providing information and training to professional business markets. Its businesses enable professionals and their organisations to perform better by providing quality, relevant and reliable information, education and knowledge.
year
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rev ($mm)
$162.62
EBITDA ($mm)
$32.04
EBIT ($mm)
$22.44
Net Income ($mm)
$17.35
Employees
856
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Ticker: ASX:VET
 
 
 
 
 
 
 
 
Vocation Limited
Vocation Limited
Vocation Limited provides vocational education and training (VET) services in Australia. It offers education and training services to employees of Australian corporate and government clients, and individual students.
year
2014
rev ($mm)
$104.98
EBITDA ($mm)
($1.65)
EBIT ($mm)
($9.42)
Net Income ($mm)
Employees
0
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