IXL Learning, a K12 personalised learning platform, is acquiring Rosetta Stone’s languages division from digital education company Cambium Learning Group, a portfolio company of Veritas Capital.
Cambium Learning Group is retaining its preK12 literacy arm Lexia Learning. Cambium previously closed the acquisition of Rosetta Stone and Lexia Learning last October.
Paul Mishkin, chief executive of IXL Learning said: “We are excited to welcome Rosetta Stone Languages to the IXL family. I have long admired the iconic Rosetta Stone brand and look forward to bringing its leading language resources to even more learners than ever.”
Cambium chief executive John Campbell added: “This latest transaction represents a strategic milestone for Cambium, as we continue to streamline and curate K12’s leading portfolio of digital curriculum and assessment tools for districts, teachers, and learners everywhere. Now that we have integrated the Lexia Learning business, we will leverage Cambium’s leadership in literacy and assessment to enhance our capabilities across the Cambium portfolio and address education’s most pressing challenges.”
Founded in 1992, Rosetta Stone’s languages division uses digital solutions to help all types of learners read, write, and speak more than 30 languages. Under its brand, Rosetta Stone provides technology-based language solutions to individual customers, schools and businesses globally.
The deal is expected to close in the first half of this year.
In the transaction, Evercore was financial advisor to IXL Learning and Latham & Watkins advised IXL Learning on legal matters.
IXL Learning is based in San Mateo, California; Cambium Learning Group is headquartered in Dallas.
Date published: 8 February 2021