K-12 Dealmaking: Boxlight Acquires Mimio; LTG Exam Platform Raises $5.3 Million

Contributing Writer

In recent dealmaking news, Boxlight purchased a provider of interactive teaching solutions and LTG Exam Platform raised more than $5 million to fund expansion.

Boxlight Acquires Mimio: Boxlight Corp., a provider of interactive classroom technology and K-12 education solutions, acquired Mimio, a developer of interactive teaching technologies that was founded in 1997 by five students at the Massachusetts Institute of Technology.

Boxlight has been manufacturing projectors and interactive technology since it was founded in 1985. Through the purchase of Boston-based Mimio, Boxlight will combine its manufacturing of patented interactive classroom technology with Mimio’s line of classroom hardware and software solutions. The merger will also extend Boxlight’s U.S.-based service and technical support, which is available 24/7 every day of the year, throughout the combined companies.

Mark Elliott, CEO of Lawrenceville, Ga.-based Boxlight, said in a statement that the benefits of the acquisition brings “a comprehensive lineup of award-winning, proven educational solutions to meet the instructional needs of K-12 districts, schools and students.”

Terms of the deal were not disclosed.

LTG Exam Platform Secures $5.3 Million: In the venture capital world, Boston-based LTG Exam Platform (LTG), developer of mobile apps for standardized test preparation, has announced a Series A round of venture capital investment totaling $5.3 million as of March 3.

The round was led by Square Peg Capital and joined by Atlas Venture, as well as several individual strategic investors.

The funding will allow LTG to invest in building out its senior management team and strategy in key areas such as product, engineering, user experience, branding, demand generation and distribution, according to a statement. It will also give LTG funding to increase the depth of its portfolio of free consumer apps and to develop revenue streams through new products and services, the statement said.

EDUGILD Signs MOU with Cisco: The Pune, India-based ed-tech accelerator has signed a memorandum of understanding with Cisco to explore opportunities to support ed-tech startups, according to a posting on EDUGILD’s Facebook page.

EDUGILD, which was founded by the Maharashtra Institute of Technology’s Academy of Engineering & Educational Research, offers selected ed-tech startups a 16-week intensive mentorship and product development program. This year, EDUGILD selected four startups out of 300 applications, according to various news reports.

Be sure to check back on Marketplace K-12 for updates on mergers, acquisitions, fundraising, and other dealmaking. Also see EdWeek Market Brief, a service that gives companies operating in the market insights on the needs and priorities of school officials.

 

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