From a News Release:
Ingram Content Group today announced it has signed a definitive agreement to sell VitalSource Technologies to Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses.
VitalSource is a leading education technology solutions provider committed to helping partners create, deliver, and distribute affordable and impactful learning experiences worldwide.
“We’re thrilled to have entered this agreement with Francisco Partners and be in the position to drive continued digital transformation across all of our segments,” said VitalSource President Kent Freeman. “This acquisition is a great fit for our business, for our team, and for our customers and partners. It ensures that we will be able to expand our efforts to deliver affordable and impactful learning solutions for students and professionals. We are proud of the work we have done to become a leader in the educational technology industry, and we are poised to accelerate those efforts with this investment from Francisco Partners. I couldn’t be more excited to lead the team into this next part of VitalSource’s journey.”
The transaction is expected to close this summer, pending regulatory approval.