In the latest issue of K-12 Dealmaking, Asia remains especially active, and a Denver-based tech firm receives an investment that will aid education workforce development.
Six major dealmaking moves took place in the K-12 world in recent weeks, including MasterClass raising $100 million and Guild Education acquiring Entangled.
Savvas Learning Company will continue to provide its K-12 products and services, and is working to support districts with their remote learning needs during school closures.
The two major companies cited what they considered onerous divestiture requirements from the U.S. Department of Justice as the reason behind their joint decision.
A math tutoring company acquires an AI-based startup, two Indian ed-tech startups secure a combined $7.6 million in new investments, and an Irish company secures $6.5 million in a Series A round.
Private equity firm Thoma Bravo has acquired Instructure, developer of the popular Canvas Learning Management System.
Ed-tech companies are raising more money, while a Pittsburgh company bought a shuttered company’s robots and an immersive experiences provider is partnering with Dell.
Instructure CEO and board member Dan Goldsmith said he will step down from both positions as the company has reached a tentative agreement to be acquired by Thoma Bravo.
Thoma Bravo, a private equity firm, had originally offered $47.60 per share to acquire Instructure. Some shareholders considered that sale price to be too low.
A Chicago firm announced a major investment in custom content provider XanEdu, and the Chinese investor Tencent leads a $15 million fundraising round in an India-based learning platform.