The education and publishing titan is being sold from one private equity firm, Apollo Global Management, to another, Platinum Equity.
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.
Under the terms of the agreement, Discovery Communications will retain a minority equity interest and license the Discovery Education brand to the business.
In this week’s dealmaking news, the ed-tech sector saw a handful of acquisitions. Private equity firm Education Growth Partners acquired Apex Learning while Sylvan Learning purchased Citelighter, among other acquisitions.
Indian educational app provider BYJU’S raised funds from the Chan Zuckerberg Initiative; and private equity firm Bridge Growth has acquire Finalsite from Spectrum Equity.
The “big three” educational publisher sells it educational properties to Apollo Global Management for $2.5 billion, in yet another landmark move in the industry.
Report from investment banking firm on mergers and acquisitions shows number of deals in education are up, but value of transactions is down.