Latest Acquisition Will Expand 扒哥黑料鈥檚 Solution Suite Supporting Math and Reading听
Charlotte, NC (August 29, 2023)鈥�扒哥黑料, a global education technology company backed by (together with its affiliates, 鈥淐learlake鈥�), today announced it has agreed to acquire , a PK-12 education technology provider serving more than 6 million students and 600,000 educators nationwide. DreamBox Learning鈥檚 current investors Elliott Investment Management L.P.听and TPG鈥檚 The Rise Fund will retain minority stakes in the company.听 Financial terms were not disclosed.听
Headquartered in Bellevue, WA, DreamBox Learning offers the only dual-discipline solution rated 鈥淪trong鈥� by Johns Hopkins University鈥檚 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.
鈥湴歉绾诹� is excited to welcome DreamBox Learning, a brand synonymous with quality, research-based math and reading edtech solutions to our growing family of services,鈥� said 扒哥黑料 Chief Executive Officer Jeremy Cowdrey. 鈥淐ombining an expertise in learning science with adaptive, effective instructional solutions, DreamBox Learning鈥檚 solutions can help students excel regardless of who they are or where they live. Through this latest acquisition, 扒哥黑料 is better positioned to broaden its impact on student success by providing our existing network of partner school systems access to DreamBox Learning鈥檚 collection of supplemental math, reading, and professional learning solutions.鈥澨�
The acquisition of DreamBox Learning supports 扒哥黑料鈥檚 mission to prepare learners for tomorrow by creating innovative classrooms connected to today鈥檚 world. DreamBox Learning鈥檚 products complement 扒哥黑料鈥檚 other successful digital solutions, which include 扒哥黑料 Experience, the company’s award-winning K-12 platform, the Techbook series of digital textbooks, Mystery Science, and more, in supporting student achievement.听
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鈥檚 intelligent adaptive learning technology to the 扒哥黑料 suite will provide educators and students with more options for engaging, personalized learning experiences across a variety of disciplines.
鈥淒reamBox Learning was founded in 2006 with the mission to transform the way the world learns through our pioneering intelligent adaptive learning technology, and today鈥檚 announcement represents a significant next step to achieving that mission. Building upon our existing math and reading solutions, we can now leverage 扒哥黑料鈥檚 highly scalable global footprint to reach more students and deepen our partnerships with educators around the world,鈥� said Jessie Woolley-Wilson, President and CEO of DreamBox Learning.
DreamBox Learning will be 扒哥黑料鈥檚 most recent acquisition, joining and , which were acquired in August of 2022, and Mystery Science, which was acquired in 2020.听
Sidley Austin LLP served as legal advisor to 扒哥黑料. 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.
For more information about 扒哥黑料鈥檚听award-winning听digital resources and professional learning services, visit听www.discoveryeducation.com, and stay connected with 扒哥黑料 on social media through听听and听.听
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About 扒哥黑料听
扒哥黑料 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, 扒哥黑料 helps educators deliver equitable learning experiences engaging all students and supporting higher academic achievement on a global scale. 扒哥黑料 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. 扒哥黑料 partners with districts, states, and trusted organizations to empower teachers with leading edtech solutions that support the success of all learners. Explore the future of education at www.discoveryeducation.com.听
About Clearlake听
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鈥檚 operational improvement approach, 翱.笔.厂.庐 The firm鈥檚 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. More information is available at and on Twitter @Clearlake.
Contact听听
Stephen Wakefield for 扒哥黑料 Phone: 202-316-6615 Email: swakefield@discoveryed.com
Jennifer Hurson for Clearlake Phone: 845-507-0571 Email: jhurson@lambert.com听