Coventry-headquartered ParentPay Group, which provides cashless payments and parental engagement services, has acquired Chelmsford-based Education Software Solutions (ESS) from Montagu Private Equity, Insider Media has reported.
The acquisition is backed by Montagu, which will take a minority interest in the ParentPay Group as part of the deal.
EES provides a management information system and related software for the education sector. The acquisition will double ParentPay headcount and it will invest more than £40 million in ESS’s development in the next four years.
ParentPay chief executive Mark Brant said: “[This] marks the coming together of ParentPay and ESS, two well-known and established ed tech businesses with highly complementary products, people and values. Our customers trust us to deliver quality products and services and we maintain and earn that trust by continuing to innovate for them in response to their needs. This deal means that our customers can now look forward to accelerated product development and in due course a seamless integration of ESS and ParentPay products.”
Edward Shuckburgh, director at Montagu, added: “With complementary products and a shared vision, ParentPay’s merger with ESS will enable the enlarged group to really drive forward innovation to the benefit of its customer base. We look forward to partnering with them on this journey.”
Date published: 17 August 2021