Learning technology company makes acquisition to improve offerings
McGraw-Hill Education, a digital learning company, announced last week that it will acquire ALEKS Corporation. The move is expected to help McGraw-Hill continue to create and develop innovative techniques to assist those in the education field.
ALEKS offers adaptive learning technologies for grades K-12, according to a McGraw-Hill press release, and specializes in personalized options. Specifically, ALEKS assesses a student's knowledge and then creates a targeted instruction program that will best help him or her learn. The software is web-based and has already been used to help institutions teach math, science and business courses.
"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," president and CEO Buzz Waterhouse said in the press release.
Waterhouse added that the acquisition will help McGraw-Hill continue to grow and offer more unique options that remain central to the future of education.
ALEKS CEO Wil Lampros agreed that the technology acquisition was a step in the right direction for both companies. According to Lampros, the two businesses share a vision for transforming education. Additionally, joining forces with McGraw-Hill will give his organization the opportunity to provide students with additional resources.
The financial details were not disclosed, but the M&A activity is expected to be finalized by the third quarter of this year.
When companies can keep their customers' interests a top priority, it will be much easier to find a technology merger or acquisition that can cater to those needs. That way, the organization's bottom line can continue to remain strong, even if the name disappears.