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.
PRnewswire | July 31, 2023
edX, a leading global online learning platform from 2U, Inc. today announced the launch of a new Study Abroad hub to help edX learners in India advance their education overseas. This new hub, developed in collaboration with Shorelight, a leader in the international education space, will connect millions of edX learners to Shorelight's catalog of over 3,000 in-person graduate and undergraduate programs at top U.S. institutions, including American University, Auburn University, University of Illinois Chicago, University of Dayton, and more.
The new Study Abroad hub will connect edX learners from India directly with Shorelight to help evaluate and select an international study abroad program that best fits their academic and career needs. Shorelight will then help learners navigate the often complex study abroad application process and continue to serve as a support system once the learner is attending classes in the U.S.
"Shorelight is steadfast in our mission to help international students access top U.S. universities, equipping them with the knowledge and support they need to excel in their academic pursuits and launch successful careers. Our partnership with edX enables us to share this mission with an even broader audience globally," said Tom Dretler, CEO of Shorelight Education. "We're excited to introduce edX learners to the diverse programs offered through Shorelight, bridging geographical boundaries and expanding the horizons of countless students."
Shorelight and edX's collaboration comes as more students around the world look to study outside their home country. In 2022, the number of international students attending college in the U.S. grew 4% to nearly 1 million, with the majority coming from India and China. India is edX's second-largest market in terms of registered learners, behind the U.S., and a focus for the company's continued global expansion.
"The Study Abroad hub on edX further enhances our ability to support international learners seeking to study in-person overseas – expanding our global footprint and meeting the needs of a significant and growing segment of the education market," said 2U Co-Founder and CEO Christopher "Chip" Paucek. "Together with Shorelight, we are committed to providing learners in India with greater access to relevant, affordable, and high-quality programs from the world's best colleges and universities."
edX is the global online learning platform that fuels the world's ambition. edX was developed in 2012 by Harvard and MIT to make the world's best education available to everyone. Today, as a part of 2U, Inc. (Nasdaq: TWOU), edX connects over 76 million people with online learning to meet every professional moment. Together with top-ranked universities and organizations at the forefront of their fields, edX offers thousands of job-relevant programs across nearly every career discipline, from artificial intelligence and robotics to sustainability and public health.
Shorelight is a leading international student marketplace in the United States. Our platform connects international students, universities, and service providers to drive student enrollment and performance at scale. We do this so that a more globally diverse population can lead and prosper for generations to come. Together, we help Educate the World.
Businesswire | August 17, 2023
As part of its commitment to delivering an interactive, standards-aligned curriculum for K–12 students, Stride, Inc.is now offering more content options that feature music from award-winning producers, singers, and rappers.
Through a unique partnership with Doggyland—a 3D animated series created by world renowned superstar, songwriter, producer, and rapper Snoop Dogg—Stride has curated collections of video content, interactive lessons, and practice activities within its Stride Learning Hub: a digital teaching tool that allows educators to customize their respective courses with Stride assessments and other learning tools.
“At Stride, we understand the importance of meeting students where they are,” said Niyoka McCoy, Stride’s Chief Learning Officer. “As countless studies have shown, the art of music can improve students’ reading, comprehension, and memory skills. Through this partnership, we’re supporting students’ learning goals, keeping them engaged, and helping them have fun along the way.”
In each Doggyland lesson, the cast of vibrant characters is led by Bow Wizzle, voiced by Snoop Dogg, the main character who serves as the adult mentor to the rest of the cast. Students can engage in topics—related to letter and number recognition, sharing, colors, the importance of accepting others and practicing good habits, among other subjects—through the use of interactive tools such as drawing, drag and drop tools, voice recording, and offline activities.
“Snoop and I are so proud to partner with Stride on this exciting collection of innovative, family-friendly musically-based content,” said Claude Brooks, Co-Creator and Executive Producer of Doggyland. “Through this partnership, even more students will learn the social, emotional, and cognitive skills they need to succeed in the classroom and beyond.”
Stride educators can select resources from the Doggyland collection based on each learner’s specific needs and preferences. This includes video content, brain breaks, and full lessons.
About Stride, Inc.
At Stride, Inc. we are reimagining learning—where learning is lifelong, deeply personal, and prepares learners for tomorrow. The company has transformed millions of people’s teaching and learning experiences by providing innovative, high-quality, tech-enabled education solutions, curriculum, and programs directly to students, schools, the military, and enterprises in primary, secondary, and postsecondary settings. Stride is a premier provider of K-12 education for students, schools, and districts, including career learning services through middle and high school curriculum. For adult learners, Stride delivers professional skills training in healthcare and technology, as well as staffing and talent development for Fortune 500 companies. Stride has delivered millions of courses over the past decade and serves learners in all 50 states and more than 100 countries.
About Snoop Dogg
An Entertainment Industry Mogul and Entrepreneur, Snoop Dogg has reigned for nearly three decades as an unparalleled force who has raised the bar as a globally recognized innovator. Snoop Dogg is an American rapper, singer, songwriter, actor, record producer, DJ, media personality, businessman and Icon. In addition to his extensive work in music, Snoop Dogg is a serial entrepreneur with endeavors in Web 3.0, tech, entertainment, lifestyle, global consumer brands and food/beverage industries.