2. Big names were acquired
The education software provider Ellucian and the publisher McGraw-Hill were both acquired this June in private equity deals. McGraw-Hill, which announced that digital growth outpaced print losses for the first time in fiscal year 2021, sold for $4.5 billion to Platinum Equity. The sale price for Ellucian was not disclosed.
Some companies went on acquisition sprees. The edtech firm Modern Campus purchased three companies before July. Modern Campus chief executive Brian Kibby told EdScoop the purchases targeted student engagement tools, adding options like interactive online campus maps to the company’s arsenal. The edtech platform UpGrad announced in July that leaders budgeted $250 million for mergers and acquisitions over the next nine months. Recent acquisitions include the professional education providers KnowledgeHut and TalentEdge and the international student recruiting platform Global Study Partners.