August 03, 2011
The Apollo Group, Inc. yesterday announced that it had entered into an agreement to acquire Carnegie Learning, Inc., a publisher of research-based math curricula including the adaptive Cognitive Tutor® math software, for $75 million. In a separate transaction, Apollo also announced would acquire related technology from Carnegie Mellon University for $21.5 million, payable over a 10-year period.
In a news release, the company said the acquisitions allow it to accelerate its efforts to incorporate adaptive learning into its academic platform and to provide tools to help raise student achievement in mathematics, which supports improved retention and graduation rates.
Carnegie Learning was founded in 1998 by a team of cognitive and computer scientists from Carnegie Mellon University, in conjunction with veteran mathematics teachers. Representative of one of the university's successful spinouts, Carnegie Learning provides math instruction to more than 600,000 students in 3,000 schools nationwide.
Carnegie Mellon's Greenlighting Startups™ initiative has helped to create more than 300 companies, like Carnegie Learning, over the past 15 years. Greenlighting Startups™ is an ongoing initiative comprised of multiple campus incubators, designed to transform research from award-winning professors and world-class students into thriving commercial enterprises. For more information about Carnegie Mellon visit the university website at www.cmu.edu and learn more about Greenlighting Startups™ at www.cmu.edu/startups.
News Brief: Apollo Group Acquires Carnegie Learning
The Apollo Group, Inc. yesterday announced that it had entered into an agreement to acquire Carnegie Learning, Inc., a publisher of research-based math curricula including the adaptive Cognitive Tutor® math software, for $75 million. In a separate transaction, Apollo also announced would acquire related technology from Carnegie Mellon University for $21.5 million, payable over a 10-year period. In a news release, the company said the acquisitions allow it to accelerate its efforts to incorporate adaptive learning into its academic platform and to provide tools to help raise student achievement in mathematics, which supports improved retention and graduation rates.
Carnegie Learning was founded in 1998 by a team of cognitive and computer scientists from Carnegie Mellon University, in conjunction with veteran mathematics teachers. Representative of one of the university's successful spinouts, Carnegie Learning provides math instruction to more than 600,000 students in 3,000 schools nationwide.
Carnegie Mellon's Greenlighting Startups™ initiative has helped to create more than 300 companies, like Carnegie Learning, over the past 15 years. Greenlighting Startups™ is an ongoing initiative comprised of multiple campus incubators, designed to transform research from award-winning professors and world-class students into thriving commercial enterprises. For more information about Carnegie Mellon visit the university website at www.cmu.edu and learn more about Greenlighting Startups™ at www.cmu.edu/startups.