Pittsburgh-based Carnegie Learning, which provides educational materials for maths and computer science, has bought Scientific Learning in an all-cash deal worth $15 million.
The transaction will help build the company’s technology offering to “improve student learning outcomes through leading-edge technology built from and validated by rigourous research”, it said in a statement.
Scientific Learning, based in Oakland, is the parent company of Fast Forward, an online K12 reading and language programme informed by neuroscience research. According to the company, its products have been used by more than three million students in over 2,300 schools in the US and Canada.
Carnegie, which is best known for its middle-school math curriculum MATHia and computer education programme Zulama, was acquired two years ago by private equity firm CIP Capital.
According to the announcement, a portion of the $15 million has been set aside to cover $7 million in debt held by Scientific Learning as well as expenses related to the transaction.
Carnegie’s software was developed by researchers at Carnegie Mellon University in 1998.
Barry Malkin, chief executive of Carnegie Learning, said: “Now more than ever, students need access to adaptive personalised learning offerings. Scientific Learning’s product portfolio and long history of delivering neuroscience-based ed tech solutions directly to students around the world supports Carnegie Learning’s mission to promote student success.”
Date published: 16 September 2020