Discovery Education, a Charlotte, NC-based education technology company backed by Clearlake Capital Group, acquired DreamBox Learning, a Bellevue, WA-based PK-12 education technology provider.
The amount of the deal was not disclosed. The transaction is expected to close in the fourth quarter of 2023, pending customary regulatory approval and the satisfaction of customary closing conditions.
The addition of DreamBox Learning’s intelligent adaptive learning technology to the Discovery Education suite will provide educators and students with more options for engaging, personalized learning experiences across a variety of disciplines. DreamBox Learning’s products complement Discovery Education’s other digital solutions, which include Discovery Education Experience, the company’s award-winning K-12 platform, the Techbook series of digital textbooks, Mystery Science, and more, in supporting student achievement.
Led by President and CEO Woolley-Wilson, DreamBox Learning is a PK-12 education technology provider serving more than 6 million students and 600,000 educators nationwide with its dual-discipline solution in both mathematics and reading. Through its adaptive learning solutions, the company empowers educators with data analytics and content-specific professional development solutions to complement instruction. Its current investors Elliott Investment Management L.P. and TPG’s The Rise Fund will retain minority stakes in the company.
Led by Chief Executive Officer Jeremy Cowdrey, Discovery Education is the worldwide edtech leader whose digital platform supports learning wherever it takes place. Through its multimedia content, instructional supports, and classroom tools, it helps educators deliver equitable learning experiences engaging all students and supporting higher academic achievement on a global scale. Discovery Education serves approximately 4.5 million educators and 45 million students worldwide, and its resources are accessed in over 100 countries and territories.
FinSMEs
29/08/2023