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Press Release: VitalSource Technologies [March 20, 2023]

VitalSource acquires Akademos

Raleigh, NC --March 20, 2023. The premier digital content delivery and learning platform provider VitalSource has acquired Akademos. This acquisition unites two organizations with the purpose of driving student success, affordability, and impact through next-generation technology and brings together complementary course materials distribution expertise.

"VitalSource's goal is to build and provide technology that supports student, campus store, and institutional success," said Kent Freeman, chief executive officer of VitalSource. "This acquisition accelerates our ability to deliver on that promise by providing more comprehensive services and next-generation tools."

This acquisition greatly accelerates and enhances VerbaOne, VitalSource's recently announced Equitable Access (EA) program for independent campus stores. The course materials market has been transformed in recent years 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, better enabling VitalSource to support store and student success.

A longtime leader in the education industry, VitalSource's products and technologies, including the leading learning platform, Bookshelf, are used by more than 18 million learners worldwide every year. This move allows VitalSource to continue to advance its mission to make learning accessible and affordable for students everywhere, and further solidifies VitalSource's position as a leading curriculum delivery and learning platform provider.

Akademos, founded in 1999, has been a leader in building technology to create efficient, cost-effective course materials delivery solutions. In addition to their supply chain expertise and EA innovations, their work in analytics and syllabus management capabilities will enable VitalSource to provide a more complete set of capabilities to campus stores and institutions.

Akademos' customers will continue to receive the top-notch service they are accustomed to, along with an enhanced ability to serve those customers with an expanded slate of offerings.

"At Akademos, our vision is to be the leading software and logistics platform to positively impact student success through course content," said Raj Kaji, chief executive officer of Akademos. "This union allows us to accelerate on a number of dimensions to realize that vision."

Freeman added, "Together, we are poised to help even more students and campus stores evolve and thrive in today's learning environment."

Tyton Partners served as the exclusive financial advisor to Akademos.

About VitalSource

VitalSource Technologies LLC is the leading education technology solutions provider committed to helping partners create, deliver, and distribute affordable, accessible, and impactful learning experiences worldwide. As a recognized innovator in the digital course materials market, VitalSource is best known for partnering with thousands of publishers and resellers to deliver extraordinary learning experiences to millions of active users globally—and today we're also powering new, cutting-edge technologies designed to optimize teaching and learning for maximum results. Learn more at https://get.vitalsource.com and follow us on Twitter, LinkedIn, and Instagram.

About Akademos

Helping students succeed is the guiding mission that drives Akademos. Akademos offers student choice, inclusive access, and equitable access programs, syllabus management software, and data and analytics that support student success. Learn more at www.akademos.com.


Summary: VitalSource has acquired Akademos. This acquisition unites two organizations with the purpose of driving student success, affordability, and impact through next-generation technology and brings together complementary course materials distribution expertise. This acquisition greatly accelerates and enhances VerbaOne, VitalSource's recently announced Equitable Access program for independent campus stores.
Publication Year:2023
Type of Material:Press Release
LanguageEnglish
Date Issued:March 20, 2023
Publisher:VitalSource Technologies
Company:
Company: VitalSource Technologies
Subject: Mergers and acquisitions
Permalink: https://librarytechnology.org/pr/28628/vitalsource-acquires-akademos

DocumentID: 28628 views: 658 Created: 2023-03-20 11:11:52 Last Modified: 2023-05-31 11:46:19.