Education Technology
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.
About Clearlake
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.
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Continuing Education
Businesswire | August 03, 2023
While Michigan test scores declined sharply during the pandemic, the new MI Kids Back on Track program is working to tackle unfinished learning by providing $150 million for individualized tutoring and academic support. To help Michigan schools and districts get students on track in math, Littera Education has partnered with Ottawa Area Intermediate School District (ISD), the developers of the Delta Math RtI Program, to integrate the evidence-based Response to Intervention (RtI) curriculum with high-impact tutoring delivered through the Littera Tutoring Management System (TMS).
“Now more than ever, districts need proven ways to support students who have fallen behind in math,” said Justin Serrano, CEO and co-founder of Littera. “We’re excited to welcome the Delta Math RtI Program to Littera’s growing portfolio of curriculum partners.”
The Delta Math RtI Program focuses on high priority readiness standards from first grade through Algebra II to prepare students for success with grade-level content. Using the Littera TMS, Littera virtual tutors can deliver the Delta Math curriculum to students in 1:1 or small group tutoring sessions. As tutors log feedback in the Littera TMS, districts can monitor student progress in real-time.
“Delta Math resources have been used with success since 2009,” said Mike Klavon, who leads the development and implementation of Delta Math for the Ottawa Area ISD.
“Through our partnership with Littera, I look forward to many more students benefiting from these materials in tutoring sessions with experienced, highly-trained professionals."
About Littera
We believe every child deserves the care and attention of a great tutor. Littera customizes high-impact tutoring for K-12 schools and districts by supporting any student, subject, schedule or staffing model. With our virtual tutors, curriculum partners, and the Littera Tutoring Management System, schools can reach every learner with individualized support.
About Delta Math
The Delta Math RtI Program, developed by the Ottawa Area Intermediate School District with support from Alt+Shift, integrates accelerated learning strategies within an MTSS framework to help students complete unfinished learning in kindergarten through Algebra II.
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Talent Development
PRnewswire | July 12, 2023
School of Rock, the leader in performance-based music education with over 335 schools across 15 global markets, is looking to expand its presence in Orlando, Fla.
"With Florida ranked third in the U.S. for small businesses, it has become a vibrant hub for entrepreneurs, attracting American and international visionaries alike," said Rob Price, CEO of School of Rock. "Recognizing the tremendous potential this state holds for our music education franchise, we are eager to bring the transformative power of School of Rock to Orlando by nurturing talent, fostering creativity, and empowering individuals to pursue their musical passions. We aim to contribute to Florida's vibrant cultural landscape and inspire communities across the Sunshine State."
School of Rock provides students of all ages an exciting and engaging music education experience, which includes bass lessons, guitar lessons, singing lessons, drum lessons, and piano lessons. Drawing from all styles of rock and roll, School of Rock students learn theory and techniques via songs from legendary artists such as Aretha Franklin, Lenny Kravitz and Led Zeppelin. Thanks to the school's patented performance-based approach, students around the world have gained superior musical proficiency, with some moving on to record deals and larger platforms such as American Idol, The Voice and Broadway.
With over two decades of experience, the world's largest music education franchise provides entrepreneurs with the opportunity to quickly plug into a global brand with a proven business model, a trailblazing educational approach, and a franchisee-focused culture. Through the power of music, prospective franchise investors have the ability to positively impact the lives of their students and their community as a whole.
"As owners and operators of multiple School of Rock locations for 15 years, we continue to witness firsthand the ongoing significance of active involvement in an organization like this," said Burny Pelsmajer, owner of multiple School of Rock locations across Florida. "Countless students have passed through our walls, who have benefited not only from arts education in general but have grown into capable, creative, socially well-adjusted young adults because of the School of Rock culture and teaching approach. We're not making musicians. We're creating butterflies out of caterpillars."
The initial investment for a School of Rock franchise is approximately $395,800 – $537,400 including a $49,900 franchise fee. Ideal candidates, or groups of investors, will have a net worth of $350,000, of which $150,000 is liquid. Additionally, U.S. military veterans receive a special discount on their initial franchise fee.
About School of Rock
School of Rock helps aspiring musicians master skills, unleash creativity, and develop tools they need to thrive in life. Founded as a single school in Philadelphia, Pa., in 1998, School of Rock has become a rapidly growing international franchise with over 500 schools open and in development across 15 global markets. Since 2009, School of Rock has grown its student count from 4,000 to over 60,000. School of Rock offers a wide variety of music lessons, including guitar lessons, singing lessons and piano lessons. The company also sells musical instruments and music gear through its GearSelect program. School of Rock is proud to support Music Will (formerly Little Kids Rock), the National Museum of African American Music (NMAAM), and the Society for the Prevention of Teen Suicide (SPTS). School of Rock was awarded US Patent 10,891,872 in 2021 for its innovative music education method. School of Rock also has garnered the following industry awards: 2023 Global Franchise Grand Champion; 2023, 2022 and 2021 Global Franchise's Awards Best Children's Service and Education Franchise; 2023 Entrepreneur Magazine's Franchise 500 Top Children's Music Enrichment Brand; 2021 Franchise Innovation Award for Most Innovative Use of Customer-Facing Digital Tools; Franchise Business Review's 2023 Top 200 Franchises and Culture 200 list; 2020 Entrepreneur Magazine's Top 200 Franchise and the #1 Child Enrichment Franchise; and 2018 Forbes # 2 Best Franchise Medium-Level Investment Award and the #1 Music Franchise in America.
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