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.
Corporate Learning Systems
PRWeb | October 25, 2023
Vector Solutions, the leading provider of training and software solutions dedicated to helping schools make their communities safer, smarter, and better, today announced it has acquired PATHWAYos, the leading platform for connecting K-12 schools and students to work-based learning opportunities. The acquisition expands Vector Solutions' footprint at the intersection of education and industry with a move into the Career and Technical Education (CTE) market. The transaction brings together two companies passionate about providing best-in-class technology to support building a stronger and more successful workforce.
As the lines between education and employment increasingly blur, Vector Solutions and PATHWAYos aim to support students on their chosen career paths and bridge the gap between education and workforce-ready skills. Today, Vector Solutions provides skills and safety training to over 2,000 industry customers, who use that training to ensure their workforce has the necessary skills to perform their jobs effectively. Together with PATHWAYos career-connected learning software, Vector Solutions will be able to offer CTE courses, industry-recognized credentials, and safety training content to K-12 students, districts, intermediaries, state agencies, and colleges. In the future, Vector Solutions plans to use the PATHWAYos platform to connect its industry customers with trained talent, supporting customers in addressing skills gaps and labor shortages by providing a direct 'skills-based' talent pipeline.
Our acquisition of PATHWAYos reaffirms our commitment to helping students excel on their chosen career paths, said Jonathan Cherins, Chief Executive Officer of Vector Solutions. The combined power of our offerings will serve to bridge the skills gap between students seeking more training and work-based learning opportunities and industry customers looking to build a skilled workforce.
PATHWAYos was established in 2017 with a mission to unlock work-based learning opportunities for all. Its mission is to change how students view their options, how educators see their workload, and how the industry considers its growing talent pool. Work-based learning (WBL) prepares students for the job market and helps build a pipeline of skilled workers, all while lowering recruitment and training costs for employers, and expanding economic development in local communities. The company's WBL programs have impacted over 800,000 students across 2,000 schools in 30 states, leading to more than three million work-based learning hours logged.
"Joining forces with Vector Solutions catapults us to an ambitious new era, where we can serve as an unrivaled catalyst for Career and Technical Education," said Cecilia Retelle Zywicki, CEO of PATHWAYos. "Our aim is nothing short of empowering students at scale by unlocking paths towards the future they want, and granting access to economic mobility that often is reserved for an exclusive subset of students. Together, we aspire to impact countless students, breaking barriers between education and the workforce, and reshaping the landscape."
Vector Solutions serves over 24,000 customers and thirty-one million end users across the Education, Commercial, and Public Sector markets. With an increased focus on CTE, Vector Solutions will accelerate its presence in this critical market. The company will support students no matter what path they choose to take into the workforce and enable industry customers to access a pipeline of skilled talent. Post acquisition, PATHWAYos will be a product under a new business unit within Vector focused on CTE. The combined expertise and resources will strengthen Vector Solutions' CTE offerings and solidify its position as a leader in the industry.
About Vector Solutions
Vector Solutions is the leading provider of impactful technology solutions dedicated to driving safer, smarter, better decision-making in the world's most critical industries. Embedded into daily workflows to drive improvements in compliance, safety, performance, and preparedness, our software includes training management, industry-focused online course libraries, EHS management, workforce scheduling, risk communication, operational readiness, and more. Vector's unique combination of information and technology - delivered when and where it is needed - is integral to our more than 34 thousand clients looking to achieve better outcomes and safeguard lives. Vector is committed to providing resources to support those who need them most and launched a collection of free courses on critical mental health and safety topics through Vector Cares. For more information, visit http://www.vectorsolutions.com. For access to free Vector Cares courses visit https://www.vectorsolutions.com/about-us/vector-cares/.
About Vector Solutions for K-12 Education
Vector Solutions for K-12 Education is a leading provider of training, software and professional development solutions committed to creating safer, smarter and better school environments. Trusted by more than 5,000 K-12 districts in the United States, Vector's award-winning suite of products save administrators time, improve compliance, and streamline administrative processes. Vector trainings on imperative topics like safety and compliance; inclusive instruction; mental health and well-being; diversity, equity and inclusion; and cybersecurity enable students and teachers alike to make schools safer, more inclusive, and more effective places to work and learn. For more information about Vector Solutions for K-12 Education, visit http://www.vectorsolutions.com/k12.
PATHWAYos® is the innovative software at the center of all career-connected learning. School districts, states, and career centers can now collaborate with businesses to expand work-based learning programs. The software streamlines processes while allowing partners to provide numerous opportunities that enhance the development of skills required by the workforce of the future. The world-class platform is quickly becoming a household requirement for innovative school districts.
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.