Cengage, an education and technology company, has announced the acquisition of WebAssign, a leading provider of digital learning solutions for higher education. The acquisition strengthens Cengage's position as a market leader in science, technology and math offering three unique platforms for faculty and institutions.
WebAssign's flagship product (also called WebAssign) is a highly regarded assessment and homework solution for the STEM disciplines (science, technology, engineering and math). More than 30 publishers, academic institutions and OER providers use WebAssign to deliver content to over 1.5 million students each year. Cengage currently uses Enhanced WebAssign as the core platform for its digital offerings in math, statistics and physics. With 360 titles, including the world-renowned Stewart Calculus franchise, Cengage and WebAssign serve more than 1 million students annually.
In addition to WebAssign for digital homework and assessment, Cengage offers the recently-launched MindTap for Math and Statistics, a complete course solution, and Learning Objects, a comprehensive program solution. Cengage acquired Learning Objects in September 2015.
Terms of the WebAssign acquisition were not disclosed. Tyton Partners, a leading M&A advisory firm within the global knowledge sector, served as the advisor to WebAssign's majority shareholder.
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