Renaissance Learning to be sold for $1.1 billion

Special to The Freeman

March 13, 2014

WISCONSIN RAPIDS – Renaissance Learning, a K12 assessment and learning analytics company, announced Thursday it has reached a $1.1 billion purchase agreement with private equity investment firm Hellman & Friedman from the Permira funds. Google Capital is expected to remain as an investor in Renaissance Learning, according to the announcement.

“Today there is an incredible opportunity to harness data to help teachers unlock the learning potential of their students,” said Jack Lynch, CEO of Renaissance Learning, in a statement. “Partnering with Hellman & Friedman will give us additional tools and resources to continue building out our capabilities, broadening our market reach, and ultimately helping teachers transform education.”

Renaissance will remain headquartered in Wisconsin Rapids. The transaction is expected to close in the second quarter of 2014, subject to the waiting period under the HSR Act and customary closing conditions.
“Renaissance Learning is an outstanding company that has been helping educators accelerate student learning for decades,” said Tarim Wasim, managing director at Hellman & Friedman, in a statement. “We believe strongly in the mission and are excited to help grow Renaissance’s impact globally through continued investment in products that make a difference in the classroom.”