NEW YORK, June 20, 2013 /PRNewswire/ -- McGraw-Hill Education, a leading digital learning company, today announced that it has signed an agreement to acquire ALEKS Corporation, the privately held developer of the ALEKS® adaptive learning technology for the K-12 and higher education markets. The move strengthens McGraw-Hill Education's position as the leader in delivering personalized learning experiences through adaptive technology. The acquisition is McGraw-Hill Education's first since it was acquired by funds affiliated with Apollo Global Management, LLC (NYSE: APO) in March 2013. Terms of the agreement were not disclosed. The closing of the transaction is expected to occur early in the third quarter of 2013.
ALEKS uses research-based, artificial intelligence to rapidly and precisely determine each student's knowledge state, pinpointing exactly what a student knows and doesn't know. ALEKS then instructs students on the topics they're most ready to learn, constantly updating each student's knowledge state and adapting to the student's individualized learning needs. McGraw-Hill Education has marketed and sold ALEKS for math in the higher education space for more than 10 years.
McGraw-Hill Education's acquisition of ALEKS Corporation marks the company's latest initiative to bolster its offerings and capabilities in adaptive learning, an effective and increasingly popular method of education that uses technology to help educators provide personalized learning experiences. In January 2013, McGraw-Hill Education acquired an equity stake in Area9 Aps, the Denmark-based adaptive learning company. McGraw-Hill Education and Area9 have worked together to develop products such as the LearnSmart Advantage adaptive learning suite, which includes SmartBook, the world's first-ever adaptive e-book.
"At McGraw-Hill Education, our number one focus is providing solutions that generate improved results for students, educators, and institutions, and we believe that delivering personalized experiences through adaptive technology is a key ingredient to teaching and learning success," said Buzz Waterhouse, president and chief executive officer of McGraw-Hill Education. "Through our acquisition of ALEKS, we're working to grow and further develop the type of engaging, personalized experiences that we see as a central element in the future of education."
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts