PR News Wire | September 01, 2023
Discovery Education, a global education technology company backed by Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake"), today announced it has agreed to acquire DreamBox Learning®, a PK-12 education technology provider serving more than 6 million students and 600,000 educators nationwide. DreamBox Learning's current investors Elliott Investment Management L.P. and TPG's The Rise Fund will retain minority stakes in the company. Financial terms were not disclosed.
Headquartered in Bellevue, WA, DreamBox Learning offers the only dual-discipline solution rated "Strong" by Johns Hopkins University's evidenceforESSA.org in both mathematics and reading. Through its high-quality adaptive learning solutions independently proven to accelerate student growth, DreamBox Learning empowers educators with data analytics and content-specific professional development solutions to complement instruction.
"Discovery Education is excited to welcome DreamBox Learning, a brand synonymous with quality, research-based math and reading edtech solutions to our growing family of services," said Discovery Education Chief Executive Officer Jeremy Cowdrey. "Combining an expertise in learning science with adaptive, effective instructional solutions, DreamBox Learning's solutions can help students excel regardless of who they are or where they live. Through this latest acquisition, Discovery Education is better positioned to broaden its impact on student success by providing our existing network of partner school systems access to DreamBox Learning's collection of supplemental math, reading, and professional learning solutions."
The acquisition of DreamBox Learning supports Discovery Education's mission to prepare learners for tomorrow by creating innovative classrooms connected to today's world. DreamBox Learning's products complement Discovery Education's other successful 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.
The acquisition of DreamBox Learning comes at a time when school districts are seeking comprehensive, yet consolidated platforms to address a wide range of core and supplemental learning needs, backed by research that underscores meaningful gains in achievement. 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 was founded in 2006 with the mission to transform the way the world learns through our pioneering intelligent adaptive learning technology, and today's announcement represents a significant next step to achieving that mission. Building upon our existing math and reading solutions, we can now leverage Discovery Education's highly scalable global footprint to reach more students and deepen our partnerships with educators around the world," said Jessie Woolley-Wilson, President and CEO of DreamBox Learning.
DreamBox Learning will be Discovery Education's most recent acquisition, joining Pivot Interactives and DoodleLearning, which were acquired in August of 2022, and Mystery Science, which was acquired in 2020.
Sidley Austin LLP served as legal advisor to Discovery Education. Moelis & Company LLC acted as lead financial advisor and Gibson, Dunn & Crutcher LLP served as legal advisor to DreamBox Learning on the transaction. The transaction is expected to close in the fourth quarter of 2023, pending customary regulatory approval and the satisfaction of customary closing conditions.
About Discovery Education
Discovery Education is the worldwide edtech leader whose state-of-the-art digital platform supports learning wherever it takes place. Through its award-winning multimedia content, instructional supports, and innovative classroom tools, Discovery Education 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. Inspired by the global media company Warner Bros. Discovery, Inc. Discovery Education partners with districts, states, and trusted organizations to empower teachers with leading edtech solutions that support the success of all learners.
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit, and other related strategies. With a sector-focused approach, the firm seeks to partner with experienced management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake's operational improvement approach, O.P.S.® The firm's core target sectors are technology, consumer, and industrials. Clearlake currently has over $70 billion of assets under management and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK, Dublin, Ireland, and Singapore.
Corporate Learning Systems
PR Newswire | September 21, 2023
D2L, a global learning technology company, today announced the formal launch of D2L for Business – a corporate learning solution designed to maximize return on investment (ROI) in learning and help empower employers to attract, retain, onboard, and upskill their workforce.
D2L for Business combines the benefits of an existing network of world-class education providers, skill development solutions, and expert consulting services along with D2L's world class Learning Experience Platform (LXP) and authoring tools, creating one integrated, easy-to-use corporate solution.
The 2023 World Economic Forum's Future of Jobs Report predicts that 44% of workers' skills will be disrupted in the following five years – rising significantly from 35% in 2016. And, according to D2L's 2023 White Paper, 80% of U.S. adults expressed some interest in pursuing additional skills training over the next 12 months.
"With recent rapid advancements in AI, the changing nature of jobs, and skills shortages, it's essential for employees to continue to upgrade their skillsets – and for businesses to offer the right learning to remain competitive in the talent market," said John Baker, CEO of D2L. "For over two decades, we've helped hundreds of organizations drive their business forward with the right learning for the skills they need. D2L for Business will help take our customers to the next level with a simple, seamless, and personalized mix of technology and services to help fuel a skilled workforce prepared to take on the future."
D2L for Business helps employers maximize organization-wide learning ROI and their workforce's satisfaction, retention, and internal mobility through:
Skills Mapping and Pathways: D2L for Business uses AI-driven algorithms and industry experts to help develop a comprehensive skills audit, map skills to careers, and identify custom learning pathways for desired careers and skill sets. This helps businesses create a skills pipeline aligned with business objectives, fill open roles, and close skills gaps.
Network of World-Class Education Partners: D2L for Business can help businesses streamline their learning administration through a curated provider network of industry-leading universities, colleges, and training organizations. Employers can easily deploy a centralized catalog of career-aligned programs and courses to talent at every level of the organization.
Customized Learning: D2L for Business can help businesses create and deliver their own customized digital learning experiences through D2L's LXP. This can enable organizations to rapidly scale and deploy learning that aligns with their strategic goals.
Learning Analytics: D2L for Business offers built-in insights to help maximize businesses' ROI with a birds-eye-view into learner progress and outcomes. Employers can gather integrated, organization-wide data about course completion rates and employee skill development, and then make data-informed decisions to help ensure future-readiness. "When it comes to revamping your learning and development program, it's important to have a plan in place that's going to take your business to the next level, and into the future," said Melissa Stein, Officer of Learning & Development at Tompkins Financial. "Tompkins specifically chose D2L as its corporate learning platform for its flexibility, ability to provide content in all areas of learning, and its two decades of trends-focused, forward-looking innovation."
D2L for Business can help empower companies to make their skilled teams a competitive advantage, future-proofing their organization to fuel growth. For more information on D2L for Business, please visit https://www.D2L.com/solutions/corporate/.
D2L is transforming the way the world learns—helping learners of all ages achieve more than they dreamed possible. Working closely with clients all over the world, D2L is supporting millions of people learning online and in person. Our growing global workforce is dedicated to making the best learning products to leave the world better than they found it. Learn more about D2L for K-12, higher education and businesses at www.D2L.com.
PR Newswire | September 12, 2023
Meazure Learning, a premier provider of full-service test development and delivery solutions for higher education and professional testing, announced today the acquisition of Examity, a leader in online proctoring for academic and credentialing programs. The acquisition allows Meazure Learning to expand its global footprint and strengthen its position as a leading provider of secure, user focused exam administration solutions.
Meazure Learning and Examity share a common commitment to creating the most innovative testing solutions and providing an exceptional client experience. The combination of the companies' extensive expertise in the higher education and credentialing verticals paired with industry-leading secure proctoring technologies and global operational footprint gives Meazure Learning the opportunity to bring a new level of proctoring scale and flexibility to testing programs around the world. By combining these strengths, the company seeks to set a new standard in exam security and provide a better user experience for its clients and test takers.
"I am thrilled at the opportunity Meazure Learning's acquisition of Examity will bring to our clients and the broader industry," said Jim Holm, CEO of Examity. "Examity clients will now have access to leading test development and psychometric services, exam delivery solutions, and a global network of test centers in addition to the powerful combination of our proctoring technologies."
"The acquisition of Examity goes beyond combining the resources of two companies," said Tim McClinton, CEO of Meazure Learning. "Unifying our two companies can position us to set a new standard for security, scalability, and innovation in the testing industry. In addition to the business opportunities created through this transaction, Meazure Learning and Examity share an inherent culture of excellence that makes us a good fit to move forward together. Our teams have been, and will continue to be, maniacally focused on our clients, providing exceptional service and building long-term relationships founded on integrity and innovation."
About Meazure Learning
Meazure Learning provides secure, reliable, and convenient test development, administration, and delivery solutions for academic and professional credentialing programs. The tech-enabled services company combines human expertise with end-to-end software solutions to provide its suite of services and achieve the optimal testing experience. With remote, test center, hybrid, and event-based delivery capabilities, it adapts to the unique needs of each exam program and test-taker. Meazure Learning empowers its clients, test-takers, and industry leaders through its mission to move people forward in their educational, professional, and personal lives. To learn more, visit Meazure Learning at meazurelearning.com.
Examity was founded to meet the needs of colleges, employers, and certification providers looking to ensure integrity. Since its founding ten years ago, Examity has partnered with hundreds of institutions and certification programs worldwide to provide a cost-effective and flexible online proctoring and learning validation solution. For more information, visit examity.com.