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]

Acquisition

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 Assessment (formerly AIR Assessment) was acquired in January 2020. [8]

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

The company acquired Lexia in October 2020, and in 2021, Lexia was combined with Voyager Sopris to create Lexia Learning. [10]

Related Research Articles

<span class="mw-page-title-main">ProQuest</span> Distributor of eBooks and digital media

ProQuest LLC is an Ann Arbor, Michigan-based global information-content and technology company, founded in 1938 as University Microfilms by Eugene Power.

Graham Holdings Company is a diversified American conglomerate holding company. Headquartered in Arlington County, Virginia, and incorporated in Delaware, it was formerly the owner of The Washington Post newspaper and Newsweek magazine.

Nuance Communications, Inc. is an American multinational computer software technology corporation, headquartered in Burlington, Massachusetts, that markets speech recognition and artificial intelligence software.

<span class="mw-page-title-main">Pearson plc</span> British multinational publishing and education company

Pearson plc is a multinational corporation, headquartered in the UK, focused on educational publishing and services.

Houghton Mifflin Harcourt is an American publisher of textbooks, instructional technology materials, assessments, and reference works. The company is based in the Boston Financial District. It was formerly known as Houghton Mifflin Company, but it changed its name following the 2007 acquisition of Harcourt Publishing. Prior to March 2010, it was a subsidiary of Education Media and Publishing Group Limited, an Irish-owned holding company registered in the Cayman Islands and formerly known as Riverdeep. In 2022, it was acquired by Veritas Capital, a New York-based private-equity firm.

Computershare Limited is an Australian stock transfer company that provides corporate trust, stock transfer, and employee share plan services in many countries.

ON Semiconductor Corporation is an American semiconductor supplier company, based in Scottsdale, Arizona. Products include power and signal management, logic, discrete, and custom devices for automotive, communications, computing, consumer, industrial, LED lighting, medical, military/aerospace and power applications. onsemi runs a network of manufacturing facilities, sales offices and design centers in North America, Europe, and the Asia Pacific regions. Based on its 2016 revenues of $3.907 billion, onsemi ranked among the worldwide top 20 semiconductor sales leaders, and was ranked No. 483 on the 2022 Fortune 500 based on its 2021 sales.

Kurzweil Education is an American-based company that provides educational technology.

<span class="mw-page-title-main">Semtech</span> Business enterprise

Semtech Corporation is a supplier of analog and mixed-signal semiconductors and advanced algorithms for consumer, enterprise computing, communications and industrial end-markets. It is based in Camarillo, Ventura County, Southern California. It was founded in 1960 in Newbury Park, California. It has 32 locations in 15 countries in North America, Europe, and Asia.

<span class="mw-page-title-main">Bureau Veritas</span> French company

Bureau Veritas is a French company specialized in testing, inspection and certification founded in 1828. It operates in a variety of sectors, including building and infrastructure, agri-food and commodities, marine and offshore, industry, certification, consumer products, and Education.

Guidehouse is an American consulting firm for businesses and government entities. It is the successor to PricewaterhouseCoopers LLP’s public sector business and it was acquired in 2018 by Veritas. The head office is in Tysons, Virginia.

<span class="mw-page-title-main">PFSweb</span> American provider of eCommerce services

PFSweb, Inc. is an eCommerce fulfillment and logistics 3PL service provider for business-to-business and direct-to-consumer companies. Its corporate headquarters were relocated from Allen, Texas to Irving, Texas in 2022. As of 2023, the company had 2.2 million square feet of warehouse space, and distribution centers in the U.S., the UK, Belgium, and Canada.

<span class="mw-page-title-main">Rosetta Stone Inc.</span> American software company specializing in language learning

Rosetta Stone Inc. is an American education technology software company that develops language, literacy and brain-fitness software. Best known for its language-learning products, in 2013, the company expanded beyond language into education-technology with its acquisitions of Livemocha, Lexia Learning, Fit Brains, and Tell Me More. In 2021, it became a subsidiary of IXL Learning.

Instructure Holdings, Inc. is an educational technology company based in Salt Lake City, Utah, United States. It is the developer and publisher of Canvas, a web-based learning management system (LMS), and Mastery Connect, an assessment management system. Prior to its IPO in 2021, the company was owned by private-equity firm Thoma Bravo.

<span class="mw-page-title-main">Ex Libris Group</span> Israeli bibliographic services company

Ex Libris Group is an Israeli software company that develops integrated library systems and other library software. Their headquarters is in the Malha Technology Park in southwestern Jerusalem. It has ten other offices around the world. In October 2015, Ex Libris was acquired by ProQuest which in turn was acquired by Clarivate in December 2021.

<span class="mw-page-title-main">Corpay</span> U.S. financial services company

Corpay, Inc. is a global business payments and spend management company that provides solutions that control expense-related purchasing and payment processes. Corpay is an S&P 500 company with a portfolio of brands that automate, secure, digitize and manage billions of payment transactions annually on behalf of businesses across more than 100 countries in North America, Latin America, Europe, and Asia-Pacific.

<span class="mw-page-title-main">Syneos Health</span> Contract research organization

Syneos Health is an American company that provides contract research and commercial services to pharmaceutical and biotechnology companies. Based in Morrisville, North Carolina, the company specializes in helping other companies with late-stage clinical trials, but also provides commercial services to market health treatments.

<span class="mw-page-title-main">Vedantu</span> Indian Multinational Educational technology company

Vedantu is an Indian multinational online tutoring platform launched in 2014 based in Bengaluru, India. It primarily provides services to students from grades 4 to 12.

Veritas Capital Fund Management, L.L.C. is a New York–based private-equity firm founded in 1992 that invests in companies providing critical products and services, primarily technology-enabled products and services, to government and commercial customers worldwide. The firm's first fund closed in 1998. They closed an eighth flagship fund in 2022; in all, Veritas has approximately $45 billion of assets under management. Veritas is led by Ramzi Musallam, the firm's Chief Executive Officer and Managing Partner.

Byju's is an Indian multinational educational technology company, headquartered in Bengaluru. It was founded in 2011 by Byju Raveendran and Divya Gokulnath. As of January 2024, Byju's made a valuation ask of $200 million, a sharp fall given its peak valuation of $22 billion in 2022. As of April 2023, the company claims to have over 150 million registered students.

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. "Veritas Capital Completes Acquisition of Cambium Learning Group". www.businesswire.com. 2018-12-18. Retrieved 2021-09-07.
  8. "Cambium Learning Group Completes Its Acquisition of Assessment Division of the American Institutes for Research". www.businesswire.com. 2020-01-06. Retrieved 2021-09-07.
  9. Womack, Brian (8 February 2021). "DFW company sells Rosetta Stone's language unit after purchasing it last year". bizjournals. Retrieved 2024-01-10.
  10. 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.