The interim CEO of the ACT talks about the company’s recent acquisitions and what’s ahead for the major provider of assessment and other services.
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.
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.
Investors are likely to set a higher bar for financially backing education companies over the next year, even as they look to put their money behind new product areas.
Deloitte named its 500 fastest-growing tech companies in North America. Thirty-nine of them touch the world of education in ways big or small.
The Salt Lake City-based company that sells the Canvas learning management system has announced plans to be acquired by Thoma Bravo, a private equity firm.