Print
Email
Print Edition Stories
Breaking down the MIT $100K
MHT's Galen Moore: Two differing web-based news business models
MHT managing editor Rodney Brown on NECN: 22 tech companies give back to community
Education technology company Cambium Learning has merged with Voyager Learning Co., according to Voyager.
A new public company, Cambium-Voyager Holdings Inc., will be created to acquire the two companies. The company will be majority owned by a private equity company, New York-based Veronis Suhler Stevenson, which currently owns Cambium. The private equity firm will receive about 20.5 million shares of Cambium-Voyager Holdings common stock, worth about $158 million.
Both Natick-based Cambium and Voyager make educational materials, with Voyager focusing on at-risk and special needs students.
Cambium CEO Dave Cappellucci will become president of Cambium-Voyager once the merger closes.
Cambium’s subsidiaries include Kurzweil Educational Systems Inc., IntelliTools Inc. and Sopris West Educational Services. As of December 2008, Cambium had 275 employees, and Voyager Learning Company had 375 employees.
In 2006, Cambium acquired IntelliTools Inc., a technology provider for pre-K-8 students requiring special or assisted instruction. At the time, Cambium formed Cambium Learning Technologies, which included IntelliTools, Wellesley-based Kurzweil and Acceleration Station, another Cambium acquisition providing educational publishing and reporting systems.
A year earlier, Cambium bought Kurzweil, a maker of reading technology for the learning or visually disabled. Co-founder Ray Kurzweil invented computer-based optical character recognition technology 25 years ago to provide access to printed text for the blind.
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.
RSS Feeds
