K-12 Dealmaking: Blackbaud Acquires Everfi for $750M; Skillsoft Reaches Deal for Codecademy
The major cloud software company Blackbaud has acquired Everfi, a provider of digital courses and tech-based social impact-focused products in schools, for $750 million.
The cash and stock transaction will “strengthen the technology and data-driven impact space,” Blackbaud said in a statement, predicting that the move would boost the company’s total addressable market to more than $20 billion.
Everfi, headquartered in Washington, D.C., offers an array of game-based digital lessons for K-12 schools, in areas that include financial literacy, health and wellness, history, college- and career-readiness, and other areas.
The CEO of Everfi, Tom Davidson, and the rest of the company’s executive team will join Blackbaud, the two organizations said.
Organizations with a focus on environmental, social, and governance objectives, and with an interest in corporate social responsibility, “need a partner who can help connect their philanthropic goals to meaningful social impact opportunities,” said Mike Gianoni, president and CEO, Blackbaud, in a statement.
“Blackbaud and Everfi will work together to realize a shared vision of measurable social impact through world-class technology.”
Colibri Group acquires Teach Now, Inc. Colibri Group. a professional-development-focused education company, has snapped up TeachNow, Inc., a teacher certification provider.
The strategic acquisition will bring teacher education into the Colibri Group’s portfolio, the company said.
For TeachNow Inc., the deal “will enable us to deepen our efforts to teach teachers around the world to be resourceful problem solvers and tech-savvy educators,” said Emily Feistritzer, founder of the organization.
TeachNow Inc. spent its first decade “redefining the future of education for our teachers,” and the new arrangement will allow it to leverage Colibri Group’s “expertise, infrastructure, and resources to reach more teachers and deliver a broader set of next-generation education solutions to a wider customer base both here in the United States and across the globe.”
TeachNow is the provider of an online teacher certification preparation program, which is centered in the support of an activity based collaborative learning environment.
The CEO of St. Louis-based Colibri Group, Jeff James, called the acquisition a “transformational event integrating a best-in-class company into a national leading provider of professional learning.”
Australian ed-tech company raises $20 million. Vivi, a provider of visual screen mirroring and administrative tool for schools, said that it raised capital with help from a U.S.-based investor, Quad Partners.
The company says the influx of funding will help it accelerate overseas expansion, particularly in the US where it has increased its personnel from two to 18 employees. It plans to introduce a series of teacher efficiency features designed to “cement Vivi as a major component of the technological infrastructure of schools and districts,” the company said in an online post describing its fundraising.
Its technology is in more than 40,000 classrooms around the world; within five years it aspires to be in one million learning spaces, the company said in the post.
“Because of the important position we hold in the classroom, the future has always looked bright at Vivi,” said Vivi’s Chief Executive Officer, Natalie Mactier. “But right now, we are moving quickly to take advantage of some significant tailwinds, particularly in the US.”
Skillsoft Acquires Codecademy. A provider of digital workforce skills, Skillsoft, has reached a deal to acquire Codecademy, a learning platform for technical skills, for $525 million in cash and stock.
Codecademy, based in New York City, seeks to provide interactive, self-paced courses and hands-on learning across 14 programming languages and multiple domains, in areas such such as application development, data science, cloud and cybersecurity.
“Codecademy will significantly expand Skillsoft’s capabilities in the high-growth Tech & Dev segment,” said Jeffrey R. Tarr, Chief Executive Officer of Skillsoft, in a statement.
Taff noted that his company built its portfolio through other strategic deals last year, focusing on instructor-led training capabilities with the acquisition of Global Knowledge, and coaching with the acquisition Pluma.
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