Rosetta Stone makes another technology acquisition
This blog previously discussed Rosetta Stone acquiring online language course company Livemocha, in an effort to reach a wider demographic. Rosetta Stone recently announced another technology acquisition, this time giving the popular language software provider a chance to expand into the EdTech industry.
According to a company press release, Rosetta Stone will acquire Lexia Learning, which is an education technology business, for $22.5 million. Lexia creates learning products that are used in 14,000 schools and more than 1 million students online. Rosetta Stone does have a section of its organization that is devoted to K-12 education, which will be strengthened by this opportunity.
Rosetta Stone president and CEO Steve Sward explained in the press release that this is a great business opportunity for his company to strengthen its leadership position in using technology for education purposes.
"Reading represents a natural adjacency to language learning, and Lexia enables us to expand into this important market with leading-edge products celebrated for their effectiveness by educators and parents," he said. "We see exciting synergies between the two companies globally."
Sward added that Lexia will provide a "dynamic suite" of solutions to help children learn.
Lexia is known for having in-depth research-based products, such as its recently released Lexia Reading Core5™. The new program is able to adjust students' learning paths in real time, accounting for varied learning abilities.
Company president and CEO Nick Gaehde explained that he is excited about the acquisition, as he believes the two organizations have a complementary devotion to improving and personalizing learning through technology. Gaehde said that with Rosetta Stone's global outreach and Lexia's products and services, the two businesses will be able to have a profound impact on literacy.