Boston and Portland, Ore.—Studying expertise firm HMH and NWEA, a not-for-profit, analysis and academic companies group serving Ok-12 college students, introduced in the present day they’ve signed an settlement for HMH to amass NWEA. Upon closing, NWEA will function as a division of HMH, with its present choices, together with its flagship evaluation—MAP Development—remaining beneath the NWEA model. NWEA evaluation options shall be built-in with HMH curriculum on HMH’s platform to create a mixed providing that hyperlinks interim evaluation to instruction. HMH is a portfolio firm of Veritas Capital, a personal funding agency that focuses on firms that present expertise and technology-enabled options to authorities and industrial prospects worldwide.
By combining NWEA’s assessments with HMH’s curriculum, HMH is predicted to ship a holistic resolution for educators that helps them perceive how college students are rising academically and what areas want essentially the most focus to maximise that progress. Most significantly, this resolution will flip insights from assessments into content material suggestions that assist lecturers tackle student-specific ability gaps and advance scholar studying.
“We’re thrilled on the potential this acquisition brings for Ok-12 educators, at a time when the connection between instruction and evaluation is more and more important for scholar success,” mentioned Jack Lynch, CEO of HMH. “HMH and NWEA have nice alignment in mission and long-term imaginative and prescient and share the collective perception within the transformative energy of schooling. Each groups are deeply centered on serving to all kids study and serve thousands and thousands of Ok-12 educators and college students throughout the globe.”
“We’ve gone from serving three college districts 40 years in the past to working with 10,000 college districts in 2022. That is the proper time to take a look at the place NWEA can go subsequent to construct on our status for high quality and belief with the purpose of amplifying our influence on scholar studying,” mentioned Chris Minnich, CEO of NWEA. “When contemplating the proper path ahead, we saved our faculty district and state schooling companions on the middle, with a give attention to how we will ship for them, particularly within the areas they worth. As a part of HMH, we can tackle their wants sooner whereas staying centered on the deep, trusting relationships we’ve got constructed with them.”
Following the shut of the settlement, which is topic to customary regulatory overview and anticipated to happen inside a 90-day interval, the NWEA title, model and evaluation and studying options will proceed as a part of HMH, and NWEA could have entry to sources and capability that can gasoline its innovation and allow it to raised serve educators and college students.
The proceeds of the acquisition shall be used within the close to time period to fund the continuation of a not-for-profit centered on serving to all kids study and obtain their full potential, with plans to ultimately convert to a personal basis.
“We’re extremely enthusiastic for this chance and that the proceeds will go towards establishing an schooling basis that invests in new frontiers of studying aimed toward serving to all youngsters study,” mentioned Mark Strickland, Board Chair of the NWEA Board of Administrators. “Moreover, we congratulate HMH and NWEA on this partnership, recognizing this as a technique to speed up the mission of each organizations, in the end benefiting educators they serve in the present day and sooner or later.”
NWEA companions can study extra about this settlement at nwea.org/news-center/.
Goldman Sachs & Co. LLC acted as unique monetary advisor to NWEA, and Hogan Lovells US LLP served because the Firm’s authorized advisor. Davis Wright Tremaine LLP additionally acted as authorized advisor to NWEA. Milbank LLP acted as HMH’s authorized advisor in reference to the transaction.
About HMH
Houghton Mifflin Harcourt (HMH) is a studying expertise firm dedicated to delivering linked options that interact learners, empower educators and enhance scholar outcomes. As a number one supplier of Ok–12 core curriculum, supplemental and intervention options, {and professional} studying companies, HMH companions with educators and college districts to uncover options that unlock college students’ potential and prolong lecturers’ capabilities. HMH serves greater than 50 million college students and 4 million educators in 150 international locations. For extra info, go to www.hmhco.com
About NWEA
NWEA® (previously referred to as Northwest Analysis Affiliation) is a mission-driven, not-for-profit group that helps college students and educators in additional than 146 international locations via analysis, evaluation options, coverage and advocacy companies, skilled studying and college enchancment companies that combat for fairness, drive classroom influence and push for systemic change in our academic communities. Go to NWEA.org to study extra about how we’re partnering with educators to assist all youngsters study.
About Veritas Capital
Veritas Capital (Veritas) is a longstanding expertise investor with over $40 billion of property beneath administration and a give attention to firms working on the intersection of expertise and authorities. The agency invests in firms that present important merchandise, software program, and companies, primarily expertise and technology-enabled options, to authorities and industrial prospects worldwide. Veritas seeks to create worth by strategically remodeling the businesses through which it invests via natural and inorganic means. Leveraging expertise to make a constructive influence throughout vitally vital areas, comparable to healthcare, schooling, and nationwide safety, is core to the agency. Veritas is a proud steward of nationwide property, enhancing the standard of healthcare whereas decreasing value, advancing our academic system, and defending our nation and allies. For extra info, go to www.veritascapital.com.
eSchool Media employees cowl schooling expertise in all its elements–from laws and litigation, to greatest practices, to classes discovered and new merchandise. First revealed in March of 1998 as a month-to-month print and digital newspaper, eSchool Media gives the information and data crucial to assist Ok-20 decision-makers efficiently use expertise and innovation to rework faculties and schools and obtain their instructional objectives.
