Houghton Mifflin Harcourt announced that it agreed to acquire Scholastic’s education technology and services business for $575 million in cash. The edtech business generated $249 million in revenues and $40 million in operational income in the 2014 fiscal year.
In this edtech merger & acquisitions roundup we take a look at Dev Bootcamp, a pioneer of the coding bootcamp model, being acquired by Kaplan. Along with raising a fresh $3 million, STI announced the acquisition of Learning Earnings and Spiral Universe. And Houghton Mifflin Harcourt’s acquisition of e-portfolio startup SchoolChapters, after an initial investment in the company a bit over a year ago.
This week we saw Apollo Education’s entry into Africa through its acquisition of Milpark Education. Queen Rania Foundation and edX launched Edraak, the first MOOC platform in the Arab speaking world. With Curiosityville Houghton Mifflin Harcourt acquired its second startup within a week. Teachers pay Teachers raised venture capital from three well established funds and eduCanon managed to win two edu competitions which got them $115k in prize money.
All this and more on this week’s Ed News Ticker.
Curiosityville, a personalized online learning platform for children ages 3-8, has been acquired by Houghton Mifflin Harcourt. Financial terms of the deal have not been disclosed.
Curiosityville will become a core element of HMH’s early childhood education offering, an area of strong growth for the company.
Houghton Mifflin Harcourt announced the acquisition of New York based Channel One News, a digital content provider for the K-12 space reports EdSurge.
Financial terms of the deal have not been disclosed. The Channel One team will remain in New York City.