Cambium Learning Group, a provider of digital education solutions and professional learning services, and a portfolio company of private investment firm Veritas Capital, has acquired Rosetta Stone, a technology-based language and literacy learning company.
Founded in 1992, Rosetta Stone’s language division uses digital solutions to help all types of learners read, write and speak more than 30 languages. Lexia Learning, Rosetta Stone’s literacy education division, caters to pre-K and K12 youngsters, teaching reading and oral language skills.
John Campbell, chief executive of Cambium Learning, said: “Rosetta Stone and Lexia Learning are both iconic digital education brands with tremendous breadth and impact worldwide. Despite the uncertain time in the education industry, both brands have shown remarkable resilience and partnership to their growing base of users. By leveraging our combined scale, Rosetta Stone and Lexia Learning will be able to reach even more teachers, students and lifetime learners and better serve their existing customers.”
Ramzi Musallam, chief executive and managing partner of Veritas, added: “We are thrilled to welcome Rosetta Stone and Lexia Learning to Cambium Learning to create one of the largest and most impactful digital education providers in the world. We look forward to Cambium’s continued growth as it transforms the future of K12 education for administrators, teachers and students.”
Cambium Learning Group is based in Longmont, Colorado; Rosetta Stone is headquartered in Arlington, Virginia.
Date published: 16 October 2020