Education technology company Follett plans to develop new features for school media center software Destiny to help customers comply with so-called “parents’ rights bills” being introduced across the US. An article in Forsyth County News earlier this month reported on changes the Georgia county is making “to increase parental involvement in a student’s book selections and expedite the process by which books that potentially contain sexually explicit material are challenged and removed.” The district contacted Follett “to find a way for parents to have more involvement in what their kids are reading at school.” Proposed solutions include allowing parents to […]
Education
“Passion Over Money”: On Careers With a Publishing Master’s Degree
Last year, the WSJ reported that graduates from top universities don’t earn enough to pay off loans for their master’s degrees in a number of disciplines. According to the article, “At New York University, graduates with a master’s degree in publishing borrowed a median $116,000 and had an annual median income of $42,000 two years after the program, the data on recent borrowers show.” Still, many alumni tell PL that they wouldn’t have a job in publishing at all without their master’s program. Graduates report that, even after internships and interviews, getting a master’s—with the networking opportunities and internal job […]
Follett Book Fairs Sold to Literati
After saying they would exit their unprofitable school book fair business as of last November, Follett School Solutions has now announced the sale of that business to book subscription business Literati. According to the release, “Literati will inherit the Follett Book Fair infrastructure, including book inventory, distribution centers, and key members of the executive, sales and operations team.” They will begin booking school book fairs for spring 2022 in parts of the Midwest, Texas, and Southern California. Schools in the Southeast can book now for the 2022-2023 school year.
Follett to Leave the School Book Fair Business
Follett School Solutions, the K-12 division sold by parent Follett Corporation to Francisco Partners at the beginning of September, announced that it will close its school book fair business: “Due to the pandemic, Follett School Solutions has made the difficult decision to exit the Follett Book Fair business, effective November 15, 2021,” the company said in a brief statement. They added, “On this date, we will also pause our eFair business and will reevaluate this offering in the future.” CEO Britten Follett indicated to SLJ they have been getting as many as 50 cancellations a week and “there was no real […]
Follett School Solutions Acquired By Francisco Partners
Follett Corporation has sold Follett School Solutions, the company’s K-12 software and content division, to tech-focused investment firm Francisco Partners, which owns the K-12 education-focused businesses Renaissance Learning, Discovery Education, Freckle, myON and Mystery Science. Earlier in the year, Francisco bought VitalSource from Ingram Content Group. The terms of the deal were not announced. Follett Corporation will continue to own and operate college bookstores through the Follett Higher Education Group, as well as what remains of Baker & Taylor. Britten Follett, a fifth-generation family member, will become ceo of FSS Content, while Paul Ilse, former ceo of Discovery Education (another […]
McGraw Hill to Acquire Achieve3000
McGraw Hill was the winning bidder in the sale of New Jersey-based edtech company Achieve3000. The deal is expected to close within 60 days, and it underscores support for McGraw from their new private equity owners at Platinum Equity. Terms were not disclosed, but earlier in August, sources told PE Hub that Achieve3000 had sales of about $100 million and EBITDA of $50 million, looking for a robust valuation of over $700 million. In the announcement, managing director at Platinum Equity Luke Myers, said: “We are making good on our pledge to help McGraw Hill accelerate its digital transformation, which […]