Learning analytics service Renaissance Learning today announced that it has been acquired by private equity firm Hellman & Friedman for $1.1 billion in an all-cash deal. The new deal comes just a few weeks after Renaissance closed a $40 million funding round led by Google Capital at a valuation of $1 billion. That deal made Google Capital a minority owner of the company.
It was only last month that Renaissance Learning raised $40 million from a new Google investment fund, valuing the education analysis company at $1 billion. Now the company is taking on a new owner altogether. Renaissance plans to announce on Thursday that it has been sold to the private equity firm Hellman & Friedman for $1.1 billion. Google Capital, the search giant’s investment fund, which led the fund-raising round last month, plans to stay on board as an investor. Though the transaction appears to have been directly linked to Google Capital’s investment, John J. Lynch Jr., Renaissance’s chief executive, maintains that it was all happenstance.
NOTE: TECHi Two-Takes are the stories we have chosen from the web along with a little bit of our opinion in a paragraph. Please check the original story in the Source Button below.
TECHi weighs both sides before reaching a conclusion.
TECHi’s editorial take above outlines the reasoning that supports this position.
In an effort to combat the ride-sharing juggernaut that is Uber, Lyft is apparently about to raise another $250 million in…
Barnes & Noble has paid Pearson $27.7 million in cash and stock to buy back its stake in the company’s…
The cyber attack on JPMorgan Chase in mid-2014 was the largest computer breach ever for a US bank. More than…
AT&T has agreed a deal to expand into Mexico with the acquisition of local carrier Iusacell. The $2.5 billion move…
