Education services provider Pearson, US, has announced the acquisition of Connections Education from an investor group led by Apollo Management, L.P.
Through its Connections Academy business, the company operates online or ‘virtual’ public schools in 21 states in the US - serving more than 40,000 students in the current school year. These virtual charter schools are accredited and funded by the relevant state and are free to parents and students who choose a virtual school in place of a traditional public institution or other schooling options.
Virtual schools serve a diverse population of students including those who may be gifted, struggling, pursuing careers in sports or the arts, in need of scheduling flexibility, or who have chosen home schooling. It is a large and rapidly-growing segment in US K-12 education.
Connections Education has produced revenue growth of more than 30 percent in each of the past three years. The transaction is subject to a Hart-Scott-Rodino review.
Connections Education has recently launched a new division, Connections Learning, which makes its courses and technologies available to educational institutions and other organisations in the US and globally. It supports the development of blended learning environments which combine classroom and online instruction and will further broaden Pearson’s range of school services across curriculum materials, assessment and learning technologies. Connections Learning also operates the National Connections Academy private online school that serves students throughout the US and internationally.
For Pearson, the acquisition provides a leading position in the fast-growing virtual school segment and the opportunity to apply Connections Education’s skills and technologies in new segments and geographic markets. It extends Pearson’s investment in education services and technologies that have both a direct connection with the learner and a strong record of enhancing student achievement.
Based in Baltimore, Maryland, Connections Education is headed by co-founder Barbara Dreyer. She will stay on as CEO of Connections Education and as a senior executive at Pearson.
