VitalSource, a North Carolina-based digital content delivery and learning platform provider, has recently acquired Akademos, an online and hybrid bookstore solution for colleges and universities.
However, the company did not disclose the amount of the deal.
This acquisition unites two organizations to drive student success, affordability, and impact through next-generation technology and combines complementary course materials distribution expertise.
Speaking about the acquisition, Chief Executive Officer of VitalSource, Kent Freeman, said:
VitalSource’s goal is to build and provide technology that supports student, campus store, and institutional success. This acquisition accelerates our ability to deliver on that promise by providing more comprehensive services and next-generation tools.
Freeman further added:
Together, we are poised to help even more students and campus stores evolve and thrive in today’s learning environment.
The latest deal greatly accelerates and enhances VerbaOne, VitalSource’s recently announced Equitable Access (EA) program for independent campus stores. In recent years, the course materials market has been transformed by digital-first, day-one access programs, including Inclusive Access (IA) and the more comprehensive EA model, which offers all course materials at a predictable, flat rate for students. Acquiring Akademos’ distribution capabilities and analytics technology enhances Vitalsource’s digital-first offerings and provides more complete digital and physical solutions, enabling VitalSource to support store and student success.
Founded by Kent Freeman, ViralSource Technologies is an education technology solutions provider committed to helping partners create, deliver, and distribute affordable, accessible, and impactful learning experiences worldwide. The company works to partner with thousands of publishers and resellers to deliver learning experiences to millions of active users globally. It’s products and technologies, including the leading learning platform, Bookshelf, are used by more than 18 million learners worldwide every year.
ViralSource aims to simplify the journey of finding, obtaining, and engaging with the required course material for academic success. It’s model provides seamless and affordable access for learners.
Chief Executive Officer of Akademos, Raj Kaji, said:
At Akademos, our vision is to be the leading software and logistics platform to impact student success through course content positively. This union allows us to accelerate on several dimensions to realize that vision.
Akademos, started in 1999 by Raj Kaji, has been a leader in building technology to create efficient, cost-effective course materials delivery solutions. The platform offers student choice, inclusive access, equitable access programs, syllabus management software, and data and analytics supporting student success. The startup believes that every student has a right to affordable educational materials. It also assumes that to help one institution’sinstitution’s educational mission and accommodate student preferences, colleges and universities should have new choices in delivering those materials. It has created a full-service online solution that offers huge savings on textbooks and other course materials while giving administrators and critical faculty control over the entire process.
Akademos’ customers will continue to receive the top-notch service they are accustomed to and an enhanced ability to serve those customers with an expanded slate of offerings.
As a part of the transaction, Tyton Partners served as the exclusive financial advisor to Akademos.
