:Cambium Learning Group
{{short description|American technology company}}
{{About|the education software company|other Cambia including the science non-profit|Cambia (disambiguation){{!}}Cambia}}
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{{More citations needed|date=May 2010}}
{{More footnotes|date=November 2019}}
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{{Infobox company
| name = Cambium Learning Group
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| type = Private
| traded_as = {{NASDAQ was|ABCD}}
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| divisions = Learning A-Z
Lexia Learning
Voyager Sopris
Kurzweil
ExploreLearning
Cambium Assessment
Kurzweil Education
VKidz
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Cambium Learning Group is an American education technology and services company that creates computer software and hardware products serving students ranging from pre-kindergarten to adult. Cambium Learning is a portfolio company of Veritas Capital, a New York-based private equity firm.{{Cite web |last=Glick |first=Ben |date=2018-12-19 |title=Veritas Capital Completes Acquisition of Cambium Learning Group |url=https://middlemarketgrowth.org/deal-news-vertias-buys-cambium/ |access-date=2023-11-22 |website=Middle Market Growth |language=en-CA}}
History
The Dallas, Texas-based company was founded in 2003.{{Cite web |date=23 March 2023 |title=Top edtech trends, companies, and VC deals |url=https://pitchbook.com/blog/top-edtech-trends-deals-and-companies |website=Pitchbook}}
The company's business units are named Learning A-Z, Lexia Learning, Voyager Sopris, ExploreLearning, Cambium Assessment, Kurzweil Education, and VKidz.
After more than 18 years with the company, CEO John Campbell retired in May 2022, and was succeeded by Ashley Anderson Zantop.{{Cite web |title=Cambium Learning Group Names Ashley Andersen Zantop as CEO and Chairman |url=https://www.k12dive.com/press-release/20220405-cambium-learning-group-names-ashley-andersen-zantop-as-ceo-and-chairman-1/ |access-date=2023-11-22 |website=K-12 Dive |language=en-US}}
Acquisitions
Kurzweil Education (formerly Kurzweil Educational Systems) was bought in April 2005.{{Cite web |date=4 April 2005 |title=Kurzweil Educational Systems bought by Natick's Cambium |url=https://www.bizjournals.com/boston/blog/mass-high-tech/2005/04/kurzweil-educational-systems-bought.html |access-date=2023-12-09 |website=bizjournals.com}} In December 2009, Cambium Learning and Voyager Sopris Learning (formerly Voyager Learning Company) merged under the newly formed company Cambium Learning Group, Inc.{{Cite web |last=Staff |first=PE Hub |date=2009-12-09 |title=Voyager Learning Completes Cambium Merger |url=https://www.pehub.com/voyager-learning-completes-cambium-merger/ |access-date=2023-12-09 |website=PE Hub |language=en-US}}
The company purchased Class.com in 2011 for a reported $4.5 million cash.{{Cite web |last=Staff |first=Site |date=2011-09-22 |title=Cambium Learning Group Inc. to Acquire Class.com |url=https://www.chieflearningofficer.com/2011/09/22/cambium-learning-group-inc-to-acquire-class-com/ |access-date=2024-01-10 |website=Chief Learning Officer - CLO Media |language=en-US}}
VKidz Holdings, Inc. was acquired in December 2018.{{Cite web |title=Lowenstein Represents Cambium Learning Group, Inc. in $900 Million Merger Agreement With Veritas Capital (Siesser, Klinka, Gillar) {{!}} Lowenstein Sandler LLP |url=https://www.lowenstein.com/news-insights/firm-news/lowenstein-represents-cambium-learning-group-inc-in-900-million-merger-agreement-with-veritas-capital-siesser-klinka-gillar |access-date=2024-09-24 |website=www.lowenstein.com |language=en}}
Cambium Learning acquired the American Institutes for Research’s (AIR) K-12 assessment division in January 2020.{{Cite web |date=2019-08-22 |title=Cambium Learning Group to Acquire Assessment Division of Nonprofit AIR - EdSurge News |url=https://www.edsurge.com/news/2019-08-22-cambium-buys-assessment-division-of-nonprofit-air |access-date=2024-09-24 |website=EdSurge |language=en}}
In September 2020, in an all-cash deal, Cambium bought Rosetta Stone with an equity valuation of approximately $792 million.{{Cite web |last=Bradley |first=Brian |date=2020-09-01 |title=K-12 Dealmaking: Cambium Learning Group Acquires Rosetta Stone; IXL Learning Acquires Australian Firm |url=https://marketbrief.edweek.org/strategy-operations/k-12-dealmaking-cambium-learning-group-acquires-rosetta-stone-ixl-learning-acquires-australian-firm/2020/09 |access-date=2024-09-26 |website=Marketbrief |language=en}} The following year, in February 2021, the company sold its shares of Rosetta Stone to IXL Learning.{{Cite web |last=Womack |first=Brian |date=8 February 2021 |title=DFW company sells Rosetta Stone's language unit after purchasing it last year |url=https://www.bizjournals.com/dallas/news/2021/02/08/cambium-rosetta-stone.html |access-date=2024-01-10 |website=bizjournals}}
The company acquired Lexia in October 2020, and in 2021, Lexia was combined with Voyager Sopris to create Lexia Learning.{{Cite web |last=Post |first=Sponsor |title=One edtech company is leading the new era of technology-enhanced education. Here's how their learning experiences benefit students and educators. |url=https://www.businessinsider.com/sc/how-cambium-is-helping-students-learn-with-technology-2021-11 |access-date=2024-09-12 |website=Business Insider |language=en-US}}
References
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External links
{{Finance links historical
| name = Cambium Learning Group
| sec_cik = 0001466815
}}
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Category:Educational publishing companies of the United States
Category:Software companies based in Texas
Category:Companies based in Dallas
Category:Companies formerly listed on the Nasdaq
Category:2018 mergers and acquisitions
Category:Private equity portfolio companies
Category:Software companies of the United States
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