Cambium Learning Group

Last updated
Cambium Learning Group
Company type Private
Nasdaq: ABCD
Divisions Learning A-Z
Lexia Learning
Voyager Sopris
Kurzweil
ExploreLearning
Cambium Assessment
Kurzweil Education
VKidz

Cambium Learning Group is an American education technology and services company that creates computer software and hardware products serving students ranging from pre-kindergarten to adult. Cambium Learning is a portfolio company of Veritas Capital, a New York-based private equity firm. [1]

Contents

History

The Dallas, Texas-based company was founded in 2003. [2]

The company's business units are named Learning A-Z, Lexia Learning, Voyager Sopris, ExploreLearning, Cambium Assessment, Kurzweil Education, and VKidz.

After more than 18 years with the company, CEO John Campbell retired in May 2022, and was succeeded by Ashley Anderson Zantop. [3]

Acquisitions

Kurzweil Education (formerly Kurzweil Educational Systems) was bought in April 2005. [4] In December 2009, Cambium Learning and Voyager Sopris Learning (formerly Voyager Learning Company) merged under the newly formed company Cambium Learning Group, Inc. [5]

The company purchased Class.com in 2011 for a reported $4.5 million cash. [6]

VKidz Holdings, Inc. was acquired in December 2018. [7]

Cambium Learning acquired the American Institutes for Research’s (AIR) K-12 assessment division in January 2020. [8]

In September 2020, in an all-cash deal, Cambium bought Rosetta Stone with an equity valuation of approximately $792 million. [9] The following year, in February 2021, the company sold its shares of Rosetta Stone to IXL Learning. [10]

The company acquired Lexia in October 2020, and in 2021, Lexia was combined with Voyager Sopris to create Lexia Learning. [11]

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References

  1. ↑ Glick, Ben (2018-12-19). "Veritas Capital Completes Acquisition of Cambium Learning Group". Middle Market Growth. Retrieved 2023-11-22.
  2. ↑ "Top edtech trends, companies, and VC deals". Pitchbook. 23 March 2023.
  3. ↑ "Cambium Learning Group Names Ashley Andersen Zantop as CEO and Chairman". K-12 Dive. Retrieved 2023-11-22.
  4. ↑ "Kurzweil Educational Systems bought by Natick's Cambium". bizjournals.com. 4 April 2005. Retrieved 2023-12-09.
  5. ↑ Staff, PE Hub (2009-12-09). "Voyager Learning Completes Cambium Merger". PE Hub. Retrieved 2023-12-09.
  6. ↑ Staff, Site (2011-09-22). "Cambium Learning Group Inc. to Acquire Class.com". Chief Learning Officer - CLO Media. Retrieved 2024-01-10.
  7. ↑ "Lowenstein Represents Cambium Learning Group, Inc. in $900 Million Merger Agreement With Veritas Capital (Siesser, Klinka, Gillar) | Lowenstein Sandler LLP". www.lowenstein.com. Retrieved 2024-09-24.
  8. ↑ "Cambium Learning Group to Acquire Assessment Division of Nonprofit AIR - EdSurge News". EdSurge. 2019-08-22. Retrieved 2024-09-24.
  9. ↑ Bradley, Brian (2020-09-01). "K-12 Dealmaking: Cambium Learning Group Acquires Rosetta Stone; IXL Learning Acquires Australian Firm". Marketbrief. Retrieved 2024-09-26.
  10. ↑ Womack, Brian (8 February 2021). "DFW company sells Rosetta Stone's language unit after purchasing it last year". bizjournals. Retrieved 2024-01-10.
  11. ↑ Post, Sponsor. "One edtech company is leading the new era of technology-enhanced education. Here's how their learning experiences benefit students and educators". Business Insider. Retrieved 2024-09-12.


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