Raleigh, North Carolina – Tyton Partners, the leading provider of investment banking and strategy consulting services to the global knowledge sector, is pleased to announce the acquisition of Advanced Instructional Systems, Inc. d/b/a WebAssign, a Raleigh-based company specializing in digital instructional and courseware technology, by Cengage Learning. The terms of the transaction were not disclosed.
Since its founding by a professor over 15 years ago, WebAssign has built a leadership position within STEM disciplines via its web-based automated grading, assistive learning, classroom management, and digital courseware platform. WebAssign has been on the forefront of the self-published, Open Education Resource, and instructor-created content movement whilst working with publishers across the board to provide students and teachers a positive and successful teaching and learning experience.
"WebAssign is the leading player driving adoption of Open Education Resources and other publicly curated textbook materials as well as a leader among STEM-focused digital courseware solutions." said Chris Curran, Founder and Managing Partner of Tyton Partners, "This acquisition by Cengage Learning further cements its position within the growing digital courseware arena."
Cengage Learning announced the acquisition of WebAssign to bolster its digital courseware offerings, particularly within STEM disciplines. WebAssign will strengthen Cengage's robust content and technology offerings on a nation- and world-wide basis as Cengage continues to solidify its position as a leading publisher and ed-tech company.
Vivek Kamath, Partner, Tyton Partners said, "WebAssign's teacher-designed instructional technology and grading platform has helped make WebAssign a market leader within Calculus and other STEM disciplines over its 15+year history. The combination of WebAssign's innovative platform and Cengage's blue-chip content make this a highly-complementary transaction on all fronts."
Tyton Partners was the exclusive advisor on the transaction.
WebAssign is a flexible and fully customizable online instructional system that puts powerful tools in the hands of teachers, enabling them to deploy assignments, instantly assess individual student performance, and realize their teaching goals. More than eight million students have used WebAssign to submit over 1.7 billion answers to homework assignments, tests, and assessments.
Cengage Learning is a leading educational content, technology and services company for the higher education and K-12, professional and library markets worldwide. The company provides superior content, personalized services and course-driven digital solutions that accelerate student engagement and transform the learning experience. Cengage Learning is headquartered in Boston with an office hub in San Francisco. Employees reside in nearly 40 countries with sales in more than 125 countries.
About Tyton Partners
Tyton Partners is the leading provider of investment banking and strategy consulting services to the global knowledge sector. With offices in Boston and Stamford, CT, the firm has an experienced team of bankers and consultants who deliver a unique spectrum of services from mergers and acquisitions and capital markets access to strategy development that helps companies, organizations, and investors navigate the complexities of the education, media, and information markets. Tyton Partners leverages a deep foundation of transactional and advisory experience and unparalleled level of global relationships to make its clients' aspirations a reality and catalyze innovation in the sector. For more information, visit http://www.tytonpartners.com or follow Tyton @tytonpartners.