Discovery Education, the leading EdTech company whose state-of-the-art digital platform supports learning wherever it takes place, has announced that it has agreed to acquire DreamBox Learning®, a PK-12 education technology provider serving more than 6 million students and 600,000 educators nationwide. DreamBox Learning’s current investors, Elliott Investment Management L.P. and TPG’s The Rise Fund, will retain minority stakes.
However, the financial terms of the deal were not disclosed.
Headquartered in Bellevue, WA, DreamBox Learning offers the only dual-discipline solution rated “Strong” by Johns Hopkins University’s evidenceforESSA.org in mathematics and reading. Through its high-quality adaptive learning solutions independently proven to accelerate student growth, the platform empowers educators with data analytics and content-specific professional development solutions to complement instruction.
With DreamBox Learning’s acquisition, Discovery Education aims to prepare learners for tomorrow by creating innovative classrooms connected to today’s world. DreamBox Learning’s products complement Discovery Education’s other successful digital solutions, including Discovery Education Experience, the company’s award-winning K-12 platform, the Techbook series of digital textbooks, Mystery Science, and more, supporting student achievement.
Speaking on the deal, Chief Executive Officer of Discovery Education, Jeremy Cowdrey, said:
Discovery Education is excited to welcome DreamBox Learning, a brand synonymous with quality, research-based math and reading edtech solutions, to our growing family of services. Combining an expertise in learning science with adaptive, effective instructional solutions, DreamBox Learning’s solutions can help students excel regardless of who they are or where they live. Through this latest acquisition, Discovery Education is better positioned to broaden its impact on student success by providing our existing network of partner school systems access to DreamBox Learning’s collection of supplemental math, reading, and professional learning solutions.
The latest deal comes at a time when school districts seek comprehensive yet consolidated platforms to address a wide range of core and supplemental learning needs, backed by research that underscores meaningful gains in achievement. Adding DreamBox Learning’s intelligent adaptive learning technology to the Discovery Education suite will provide educators and students with more options for engaging, personalized learning experiences across various disciplines.
Jessie Woolley-Wilson, President and CEO of DreamBox Learning, added:
DreamBox Learning was founded in 2006 with the mission to transform the way the world learns through our pioneering intelligent adaptive learning technology, and today’s announcement represents a significant next step to achieving that mission. Building upon our existing math and reading solutions, we can now leverage Discovery Education’s highly scalable global footprint to reach more students and deepen our partnerships with educators worldwide.
DreamBox Learning will be Discovery Education’s most recent acquisition, joining Pivot Interactives and DoodleLearning, which were acquired in August of 2022, and Mystery Science, which was acquired in 2020.
As part of the agreement, Sidley Austin LLP served as legal advisor to Discovery Education. Moelis & Company LLC acted as lead financial advisor, and Gibson, Dunn & Crutcher LLP served as legal advisor to DreamBox Learning on the transaction. The transaction is expected to close in the fourth quarter of 2023, pending customary regulatory approval and the satisfaction of standard closing conditions.
Through its award-winning multimedia content, instructional supports, and innovative classroom tools, Discovery Education helps educators deliver equitable learning experiences that engage all students and support higher academic achievement globally. The company serves approximately 4.5 million educators and 45 million students worldwide, and its resources are accessed in over 100 countries and territories. Backed by Clearlake Capital Group, L.P. (with its affiliates, “Clearlake”), the firm partners with districts, states, and trusted organizations to empower teachers with leading EdTech solutions that support the success of all learners.