Weld North Holdings LLC announced today that it has acquired Imagine Learning and Truenorthlogic. Though terms of the deals have not been disclosed, New York Times Dealb%k wrote that the price was above $150 million for the two companies according to sources briefed on the matter.
Weld North is led by former Kaplan CEO Jonathan Grayer and aims to create a $200 million platform, providing digital learning solutions for English-language education as well as school management services.
After Grayer left Kaplan in 2008, he wanted to remain in the for-profit education space, focusing on digital learning. Through the acquisitions of Imagine Learning, Truenorthlogic and Edgenuity, formerly Education2020, in 2011, Grayer aims to compete with legacy players in the new digital learning market.
Imagine Learning designs and develops language and literacy software for struggling readers, early childhood students, and the rapidly growing English language learner (ELL) student population.
Truenorthlogic is the market-leading provider of SaaS-based K-12 talent management solutions and is expected to work together with Generation Ready, a national provider of leader and teacher professional learning services and portfolio company of Weld North.
Weld North is an investment company concentrating on education, health and wellness, consumer services and marketing businesses. In partnership with Kohlberg Kravis Roberts, a leading global investment firm, Weld North seeks to make control investments in businesses with high potential for long-term growth in cash flow.
- Weld North Acquires Imagine Learning and Truenorthlogic | BusinessWire
- Former Kaplan Chief Assembling a Digital Learning Company | Dealb%k
- Weld North Acquires Education2020, Leading Digital Education Company | BusinessWire