Boston ed tech firms Valore and Boundless make deal
One of the most lucrative and rapidly expanding tech fields is "ed tech," or startups and companies focused on improving educational experiences. From learning modules for secondary schools to coursework platforms for college students, solutions for teachers and administrators have become a hot commodity. One city where this is especially true is Boston, where colleges per capita outpaces every other metro area.
BostInno, a local tech blog, reports that Valore, a textbook and student loan managing firm, has acquired Boundless, a developer of online study material. While the terms of deal weren't disclosed, Valore has made strong plays to increase its valuation in recent years.
"Valore says it's on track to surpass $100 million in revenue for 2015," reports Kyle Alspatch. "Along with consolidating two of the most prominent startups in Boston ed tech, the deal aims to help turn Valore into the dominant player nationally that's focused on reinventing the textbook space (and a stronger rival against companies such as Chegg, which went public in 2013)."
In a marketplace that now sports established giants, ed tech startups can increase their resources and visibility through mergers and acquisitions. By combining resources, Valore and Boundless can make a stronger impression on the market and use their collective expertise to improve service for users. An additional goal of the acquisition could involve Valore's plan to go public by 2017, a deadline approaching quickly. Acquisitions can add luster and credibility to companies on the cusp of making that next step.
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