The sale price is an 88% premium to Rosetta’s closing price July 16, the last trading day before a media report cited the possibility of a sale.
Cambium, a portfolio company of the New York private equity firm Veritas Capital, provides a variety of digital educational services.
The companies expect to close the deal in the fourth quarter.
In addition to its language segment, Rosetta has a literacy education division, Lexia Learning, founded more than 35 years ago.
“Lexia helps students build reading and oral language skills through its rigorously researched, independently evaluated, and widely respected instruction and assessment blended-learning programs,” the company said in a statement.
Meanwhile, “Cambium’s digital and blended curriculum, professional learning, and assessment solutions drive proficiency, equity and other learning outcomes in classrooms everywhere,” the companies said.
“The addition of the Lexia and Rosetta Stone product lines further enhances Cambium’s highly unique continuum of digital products.”
“As part of Cambium, we will have the scale and resources to ... continue building and delivering technology-based solutions that support the ability to change learners’ lives through language and literacy education,” Rosetta Stone Chief Executive John Hass said in a statement.
The deal already was baked into Rosetta’s share price, which at last check was little changed at $29.81.