EDUCATION TECHNOLOGY
Frontline Education | October 06, 2022
Thoma Bravo, a leading software investment firm, today announced the completion of its sale of Frontline Education, a leading provider of administration software purpose-built for educators in K-12, to Roper Technologies, Inc. (NYSE: ROP) in an all-cash transaction that values Frontline at approximately $3.725 billion. Frontline, which offers solutions for human capital management, student and special programs, and business operations with powerful analytics to increase productivity and improve overall performance for K-12 administrators, has been a trusted partner to K-12 leaders across all 50 states for decades.
"We are grateful to Thoma Bravo for their invaluable partnership over the last five years which has allowed us to further expand the use of our critical solutions by educators across the country,As part of Roper, we are excited to bring enhanced innovation and value to our clients in alignment with our mission to empower K-12 schools with the technology capabilities they need to succeed."
Mark Gruzin, Chief Executive Officer of Frontline Education
We are extremely proud of our partnership with Frontline and what we have been able to achieve together," said Holden Spaht, a Managing Partner at Thoma Bravo. Applying our deep sector expertise, we worked with Mark and the Frontline team to make strategic acquisitions, increase revenue and expand product offerings and headcount in order to drive sustainable long-term growth. We look forward to following Frontline's continued success with Roper as their partner. J.P. Morgan Securities LLC, Jefferies LLC and Macquarie Capital served as financial advisors and Kirkland & Ellis LLP served as legal advisor to Thoma Bravo and Frontline Education. Cooley LLP also served as legal advisor to Frontline Education.
About Thoma Bravo
Thoma Bravo is one of the largest private equity firms in the world, with more than $122 billion in assets under management as of June 30, 2022. The firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging the firm's deep sector expertise and proven strategic and operational capabilities, Thoma Bravo collaborates with its portfolio companies to implement operating best practices, drive growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings. Over the past 20 years, the firm has acquired or invested in more than 400 companies representing over $220 billion in enterprise value. The firm has offices in Chicago, Miami and San Francisco.
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EDUCATION TECHNOLOGY
Penda Learning | November 16, 2022
Penda Learning, a Learning 2020 company, announced today that it has finalized an agreement with Scantron for the use of more than 14,500 assessment items in 11 assessment banks that span all science disciplines. These items will be used to expand the assessments currently available with Penda Science — a game-based science curriculum for grades 3–8, physical science, environmental science, and biology. — to include all NGSS performance expectations and state-specific science standards. Unlike traditional assessments, Penda Science interactive assessments challenge students to achieve high scores that earn them points to unlock virtual worlds, customize their avatars, and more. Teachers and administrators can use the line item analysis data to pinpoint learning gaps and personalize instruction within the Penda Science platform for small groups and individuals to help students achieve science mastery.
"This agreement will dramatically accelerate the development of comprehensive assessments within Penda Science. High-quality, validated assessments are critical for teachers to make informed decisions about instruction and intervention in order to support science learning success for all students. We are excited to be able to offer students a more interactive and engaging assessment experience and educators the reliable data they need."
Brad Baird, President/CEO of Learning 2020
The new assessment development is slated to be completed by April 2023. Assessments will be available for diagnostic, formative, and summative purposes. Also new to the Penda assessment suite will be a "quick check" assessment for teachers to use before, during, or after a unit to gauge student learning in order to plan or modify instruction to align with student knowledge.
About Learning 2020
Learning 2020, parent company to Penda Learning, is dedicated to identifying pressing, unfilled needs within the K-12 education market and developing technology solutions that solve these challenges in innovative and cost-effective ways that will positively impact teaching and learning. Formed in early 2019 by Brad Baird and Bill Tudor, experienced education technology entrepreneurs, Learning 2020's current focus is on ensuring all students have access to high-quality STEM instruction whether learning at home or in school.
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CORPORATE EDUCATION AND TRAINING
Workforce Edge | October 10, 2022
This week, Workforce Edge, a complete employee education management platform within Strategic Education, Inc.’s family of educational services, announced a partnership with Six Flags Entertainment Corporation to provide all team members, including full-time, part-time, and seasonal employees, with access to a network of degree and certificate programs.These include tuition discounts at both Capella University and Strayer University, as well as no-cost access to Sophia Learning available to Capella or Strayer undergraduate students. Six Flags employees will be able to take advantage of the benefits offered to them as a result of the Workforce Edge partnership which began on October 3, 2022.
“We’re excited to support a household name brand like Six Flags with their investment into continuing education opportunities for their team members,Through this partnership, Six Flags has secured a spot as a market leader in employee benefits, positioning it as an attractive employer in the amusement park entertainment space and helping ensure it maintains a skilled workforce.”
Karl McDonnell, President and CEO, Strategic Education.
We’re eager to roll out the Workforce Edge platform to all of our 35,000+ full-time, part-time, and seasonal employees so that they can have access to affordable, continuing education opportunities,” said Selim Bassoul, President & CEO at Six Flags Entertainment Corporation. “We’re proud to support our team members as they work to achieve their professional and personal success. Strategic Education supports more than 1,000 employer partners in their efforts to upskill and retain their workforce and provides a suite of groundbreaking education solutions to help employers stay one step ahead of their competition. Workforce Edge serves as a solution to help employers offer their workforce higher education options that are relevant, innovative and affordable. Since launching, Workforce Edge has partnered with 45 industry-leading employers to help administer education benefits.
About Strategic Education, Inc.
Strategic Education, Inc. is dedicated to helping advance economic mobility through higher education. We primarily serve working adult students globally through our core focus areas: 1) U.S. Higher Education, including Strayer University and Capella University, each institutionally accredited, and collectively offer flexible and affordable associate, bachelor’s, master’s, and doctoral programs including the Jack Welch Management Institute at Strayer University, and non-degree web and mobile application development courses through Strayer University’s Hackbright Academy and Devmountain; 2) Education Technology Services, developing and maintaining relationships with employers to build education benefits programs providing employees access to affordable and industry-relevant training, certificate, and degree programs, including through Workforce Edge, a full-service education benefits administration solution for employers, and Sophia Learning, enabling education benefits programs through low-cost online general education-level courses that are ACE-recommended for college credit; and 3) Australia/New Zealand, comprised of Torrens University, Think Education, and Media Design School that collectively offer certificate and degree programs in Australia and New Zealand. This portfolio of high quality, innovative, relevant, and affordable programs and institutions helps our students prepare for success in today’s workforce and find a path to bettering their lives.
About Six Flags Entertainment Corporation
Six Flags Entertainment Corporation is the world’s largest regional theme park company with 27 parks across the United States, Mexico and Canada. For 60 years, Six Flags has entertained hundreds of millions of guests with world-class coasters, themed rides, thrilling waterparks and unique attractions. Six Flags is committed to creating an inclusive environment that fully embraces the diversity of our team members and guests
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