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Education

Follett School Solutions Acquired By Francisco Partners

September 1, 2021
By Katy Hershberger

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 […]

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McGraw Hill to Acquire Achieve3000

August 31, 2021
By Michael Cader

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 […]

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McGraw Hill to be Sold to Platinum Equity

June 16, 2021
By Michael Cader

Private equity firm Apollo Global’s long journey with McGraw Hill is coming to an end, with an agreement to sell the publisher to yet another private equity company, Platinum Equity. The deal is valued at $4.5 billion including debt. With debt at the end of 2020 of about $2.23 billion, it means the new owner […]

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Wiley Reports a Strong Fourth Quarter, with a Favorable Outlook

June 10, 2021
By Sara Grace

Wiley reported fourth quarter and fiscal year results for the period ended April 30, with sales of $536 million, up from $474.6 million, a 13 percent increase, including $14.8 million in foreign exchange variance and acquisitions. Operating income was $51.2 million, improved from a loss of ($170.7) million a year ago, and adjusted EBITDA was […]

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Corporate: McGraw Hill and Pearson Offer Highlights of Results to Come

April 26, 2021
By Sara Grace

McGraw Hill offered brief preliminary highlights of their fiscal fourth quarter (ending March 31) and full year 2021 results. For the quarter, overall billings grew 21 percent, with 12 percent growth in higher ed billings. Adjusted EBITDA grew in the fourth quarter, thanks to strong billings and savings from the completed “cost rationalization program.” The […]

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Barnes & Noble Education’s Struggle Continues; WH Smith Improves Its Burn Rate

March 9, 2021
By Sara Grace

Barnes & Noble Education reported earnings for the third fiscal quarter ended January 30, with sales of $412 million, compared to $503 million last year, a decline of 19 percent. While sales were better than analysts’ expectations, earnings were worse, with net loss of $(48) million, down from $(2) million last year. The loss included […]

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