K-12 Dealmaking: Follett Sells K-12 Software and Content Division to Global Investment Firm
Summary
A major company operating in the nation’s schools and libraries, Follett Corp., is selling its K-12 software and content division to tech-focused global investment firm Francisco Partners. “With that foundation, we see tremendous potential for the combined companies to serve even more educators, learners, parents and partners with consistently innovative products and practical solutions that respond to their specific needs.” The Committee on Foreign Investment in the United States is a panel comprising officials spanning several federal agencies that is authorized to review certain transactions involving foreign investment in the U.S. to determine the effect of such transactions on U.S. national security. Online learning platform EliteGamingLIVE, which combines interscholastic competition with education to improve student engagement with STEM subjects, has raised $1.5 million in a funding round led by venture capital firm American Family Insurance Institute for Corporate and Social Impact, according to an announcement. “EGL offers a virtual e-sports league that is fun and competitive, and inspires bright futures,” EliteGamingLIVE CEO and Founder Kerwin Rent said in a statement. “We were pleased to work with the experts at TELUS Wise to proactively take steps that ensure those who engage with our platform have the appropriate understanding, fundamental skills and mindset to use technology responsibly and safely as they interact or compete online.” Follow EdWeek Market Brief on Twitter @EdMarketBrief or connect with us on LinkedIn.
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