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 | October 05, 2023
Ellucian, the leading higher education technology solutions provider, today announced a strategic partnership with Portare Solutions, a leading change management consultancy in the United Kingdom with more than 32 years of experience, to accelerate, support and enhance the transition to Software as a Service (SaaS) student information systems for higher education institutions in the UK and Ireland.
Portare Solutions has extensive experience in leading change associated with student information system projects, and has designed a framework with Ellucian to focus on cultural change. It will play a pivotal role in transforming institutions' business processes to ensure they make the most out of new technology solutions, supporting staff in adapting the way they work and de-risking projects.
We're thrilled to partner with Portare Solutions, a standout leader in change management support. Their expertise and unique approach will play a crucial role in managing the change associated with student information system SaaS projects, said Jeff Dinski, Chief Strategy and Corporate Development Officer, Ellucian. This partnership underscores our commitment to providing the best possible service to our customers, helping them navigate transformation, support their staff, and get the most out of their technology investment.
"We are delighted to partner with Ellucian, a global leader in higher education SaaS solutions, to help institutions achieve their goals," said Krissi Sanft, Co-Founder and Managing Director, Portare Solutions. "This partnership is a natural fit, as we share a common vision for the future of higher education. We are confident that together, we can make a real difference in the lives of students and faculty."
"Through the partnership, Ellucian and Portare Solutions will together provide institutions with the tools and resources they need to leverage the best from new technologies," added Tilden Lamb, Co-Founder and Managing Director, Portare Solutions.
For more information about Portare Solutions, visit: https://portaresolutions.com/. For more information on Ellucian solutions, visit: https://www.ellucian.com/ or contact email@example.com
About Portare Solutions
Portare Solutions is a leader in change and transformation helping organisations to mature change capability and management processes to enable strategic evolution. We are committed to tangibly assisting our clients to achieve the best results and put strategic initiatives into action. Everything we do is centred around change and transformation and we have significant experience in the implementation of education technology in the higher education sector. As well as this, we support our clients across a number of connected business areas including business technology and data strategy, organisational design and operating model, portfolio and programme design and delivery, change as a service, assurance services and we can help to build flexible and permanent skill sets and teams. We work through partnership and we live by our values; trust, integrity and transparency.
Ellucian powers innovation for higher education, partnering with more than 2,900 customers across 50 countries, serving 22 million students. Fueled by decades of experience with a singular focus on the unique needs of learning institutions, the Ellucian platform features best-in-class SaaS capabilities and delivers insights needed now and into the future. These solutions and services span the entire student lifecycle, including data-rich tools for student recruitment, enrollment, and retention to workforce analytics, fundraising, and alumni engagement. Ellucian's innovative solutions, vast ecosystem of partners and user community of more than 45,000 provides best practices leading to greater institutional success and achieving better student outcomes.
PR Newswire | October 12, 2023
Venbrook Group, LLC ("Venbrook"), one of the largest independent insurance distribution and services firms in the U.S., today announced the formation of a national Higher Education division to bring a holistic approach to risk management solutions for K-12 schools, universities, faculty, staff, and students for all their insurance needs. The new division falls under Venbrook's Employee Benefits vertical, led by Alison Myers ("Myers"), Executive Vice President.
Venbrook's new Higher Ed division will tailor customized risk management solutions for campuses across the U.S., helping schools identify insurance needs and relieve staff from the complexity and administration of policy implementation. The new division brings together the expertise of Venbrook's risk management team for all lines of coverage for K-12, community colleges, and private and public universities nationally. The Division will also employ a fully integrated technology solution to assist with implementation, policy, and claims management, as well as providing an accessible member-facing portal focused on engagement and care management.
Assisting Myers is Mike Conway, long time industry veteran, who joins Venbrook as the new Head of Strategy & Business Development. Conway has more than 20 years of experience in student insurance and was part of the student insurance team at Aetna, as well as being part of Anthem's student division. Conway will focus on the strategic direction of the division and help grow the national footprint of the company's Higher Ed offering.
In my experience, one of the biggest challenges facing schools is reaching students to connect them to the right health, wellness and insurance programs they need, said Conway. We want to make health and wellness a priority, alongside school staff, so students reach their academic goal of graduation. And we want to make sure campuses and their staff's insurance needs aren't overlooked. This new program will bring a whole campus solution to schools and I couldn't be more thrilled to join Venbrook and bring this program to market.
"We are excited about the launch of our Higher Ed division and bringing Mike on board to grow our platform," said Myers. "The market is in need of a holistic approach to insurance for schools, students, and faculty. Our investments in infrastructure and the build out of our new technology platform will help alleviate the administrative burden for schools, while providing a seamless solution for students."
Venbrook Group, LLC is a holdings company with subsidiaries engaged in retail broking, wholesale broking, specialty programs, and claims services. Venbrook caters to a national client base across myriad industries with divergent needs. Venbrook's team of experts and industry specialists' partner with their clients to manage their risks, create security, promote growth and add value by delivering best-in-class insurance products and programs.