PR Newswire | September 28, 2023
Today, Vernier Science Education, a leading provider of innovative science and STEM education solutions, announced a significant organizational shift that will chart the course for its mission and values for the foreseeable future. The company will evolve from partner-owned to being owned by a Perpetual Purpose Trust. This allows Vernier Science Education to ensure values-aligned ownership succession and uphold its core mission and values indefinitely, ensuring that its social and charitable objectives remain a priority in perpetuity, securing the futures of its valued employees, and reinvesting profits back into the business while sharing benefits with employees, customers, and communities alike.
The Perpetual Purpose Trust is a bold and innovative approach that aligns perfectly with Vernier's vision of serving educators, students, the STEM community, and communities at large. The decision to reevaluate and reimagine Vernier's ownership model and long-term commitment to its mission comes as John Wheeler, the CEO of Vernier Science Education, prepares to step back from day-to-day activities, ushering in a new era of innovation and purpose-driven sustainability for the company.
"Our decision to reevaluate our business and establish a Perpetual Purpose Trust stems from our unwavering commitment to STEM education and sustaining the values and principles that have defined Vernier for decades. This transformational shift will enable us to secure the future of our employees, reinvest in our business, and continue our mission of creating a STEM-literate society," said Wheeler. "I am honored to continue to guide our work during this transition, and I look forward to the remarkable achievements that lie ahead for Vernier Science Education."
Wheeler will remain in his position as CEO until a nationwide search identifies a replacement. He will continue to be active in Vernier Science Education providing guidance and leadership to the organization and supporting the new CEO.
The transition from partner-owned to Trust-owned will be funded by both gifting and purchase of shares from current Partners. Dave and Christine Vernier, the company's co-founders and key figures in its success, will remain actively engaged in the Vernier Science Education family, offering their invaluable insights and support as the company embarks on this exciting new chapter.
"Vernier Science Education has always been driven by a deep commitment to advancing STEM education. As we transition to a Perpetual Purpose Trust, we're reaffirming our dedication to our mission and values, and commitment to staying a local independent Oregon-based company for generations to come," said Dave Vernier. "Christine and I are excited to continue contributing to the Vernier family and witnessing the positive impact this strategic move will have on educators, students, and the STEM community. This is how we pay back the years of success our organization has had and give back to our community."
By establishing a Perpetual Purpose Trust, Vernier Science Education joins other socially-conscious organizations, foundations, and companies committed to long-term sustainability, fostering a sense of purpose that extends far into the future.
About Vernier Science Education
Vernier Science Education is a leading provider of innovative solutions for STEM (Science, Technology, Engineering, and Mathematics) education. For over four decades, Vernier has been dedicated to supporting educators and inspiring students to explore and understand the world of science. With a commitment to quality, Vernier's comprehensive range of data collection and analysis tools, along with its educational resources, empowers educators to facilitate engaging and hands-on learning experiences. To learn more, visit vernier.com.
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.
PR Newswire | September 26, 2023
eDynamic Learning, North America's largest provider of digital curriculum for electives and Career and Technical Education (CTE) courses for schools, announces they have acquired the company behind Learning Blade® and Ready for Industry®. This is eDynamic Learning's fourth industry acquisition and further expands access for students and teachers to industry-leading career exploration curriculum and a growing suite of college and career readiness tools.
"Learning Blade and Ready for Industry offer an impactful expansion of the tools and resources from eDynamic Learning to further support our mission of guiding students' passion to purpose. By reaching learners at pivotal stages of their academic development, we can guide them to visualize and prepare for their futures and ultimately, enter the workforce ready for success with the necessary knowledge, skills, and certifications for a wide range of industries." Jerry Wooden, President and CEO of eDynamic Learning.
Learning Blade introduces students in grades five through nine to science, technology, engineering, and math (STEM), CTE, and computer science careers through interactive and engaging online tools in "mission" based storylines. Students work together in teams as they accomplish goals and explore over 100 careers by completing more than 400 online lessons, project-based lessons, and presentations. Parent resources, 3D printing, and design thinking lesson plans are also provided. Learning Blade's newly released Introduction to Coding course is also widely used to introduce computer science to middle school students.
The innovative Ready for Industry (RFI) platform creates a career bridge for learners by providing essential industry knowledge for the five highest-demand industries across the country: healthcare, manufacturing, information technology, construction, and logistics. Specifically designed to address career preparedness and awareness, RFI provides 20-hour courses suited for high schools, community and technical colleges, and adult education programs. The program has also worked in collaboration with National Occupational Competency Testing Institute (NOCTI) to create an industry-recognized credential program in all five industries.
"By joining eDynamic Learning, more students and adults will have the ability to discover and better prepare for high-demand careers that align to their interests and meet the needs of the workforce. With this new relationship and our successful statewide strategy, we are excited to have more support allowing even more states and organizations to have access to these innovative tools." Sheila Boyington, Co-Founder of Learning Blade and Ready for Industry.
About eDynamic Learning
eDynamic Learning is the K-12 publishing industry's largest provider of college and career readiness solutions established with a mission of helping students find their passion and prepare them with the knowledge and skills to make life-shaping decisions. eDynamic Learning offers award-winning courseware for grades 5-12 with more than 250 career-focused elective and career technical education courses. eDynamic Learning is also the leading provider of simulation-based educational content with over one-third of all U.S. high schools using the Knowledge Matters- Virtual Business line of simulations.
About SAI Interactive, Inc. d/b/a Thinking Media
SAI Interactive, Inc. has made the past two years of Inc. 5000 and was named Small Business of the Year by the Chattanooga Chamber of Commerce. The company was founded by Sheila and Dr. Dane Boyington who have developed some of the most respected and innovative tools in the education technology field. In addition to the current products Learning Blade® and Ready for Industry®, Thinking Media has been widely recognized by experts and innovators in the fields of education and workforce development.