Domestic, Elementary / Primary / Junior, For-Profit, High school / Secondary 2, Investors, Required, STEM / Science, Technology, Education, Math, Technology - Written by Elbert Chu on Wednesday, August 3, 2011 7:35 - 0 Comments
Apollo Purchases Math Specialist & Carnegie Mellon Tech in $96.5M Deal
by Elbert Chu
Apollo Group Inc. (NASDAQ: APOL) agreed to a $96.5M deal to purchase Carnegie Learning and related technology from Carnegie Mellon University. Apollo’s stock, up over 25% year-to-date, is one of the few that seems bulletproof in a beleaguered for-profit education sector.
In the battle to teach critically lagging STEM (science, technology, engineering, math) skills to American students, Apollo has chosen to bring in a specialist.
Dow Jones newswires reports:
Co-Chief Executive Gregory Cappelli said Carnegie Learning addressed “a fundamental skills gap in mathematics that is prevalent among today’s postsecondary students.” Apollo agreed to pay $75 million for the company, which publishes research-based math curricula including the Cognitive Tutor math software. The $21.5 million payment to the university for the related technology, meanwhile, is payable over a 10-year period.
Carnegie Learning was founded in 1998 by a team of Carnegie Mellon University scientists, in conjunction with veteran math teachers. The publisher provides math instruction to more than 600,000 students in 3,000 schools nationwide.
Apollo expects the transactions will add to earnings by 7 cents to 9 cents in fiscal 2012. The deals are expected to close in the first quarter of that year, which typically ends in November.
Carnegie learning is a combination of analytics tools for the teacher and collaborative tools for the students. Trip Gabriel at the New York Times reports:
Carnegie Learning, based in Pittsburgh, was founded in 1998 by scientists from Carnegie Mellon University who developed an approach to teaching math that combines classroom work with computer instruction. Its Cognitive Tutor software analyzes students’ weaknesses as they work through problems and offers new problems until they are ready to move on.
Carnegie Learning is one of a number of small- to medium-size companies that offer instructional material for use on computers and tablets and data analysis for schools, a market that has piqued investors’ interest in the past year. It says its curricula is used by 600,000 students in grades 6 through 12, in 3,000 schools nationwide.
“We believe that adaptive and personalized learning is the future of education,” said Dennis Ciccone, CEO of Carnegie Learning. “We are seeing significant, measurable results in student engagement and performance in mathematics.”
Full article at Nasdaq.
Full article at New York Times.
Leave a Reply
We welcome Tips & Pitches
Latest WA Original Features
The Pulitzer Prize winning investigation newsroom digs into for-profit education.
- Interview: UoPeople Founder Shai Reshef On Edu Tech, Free Tuition & P2P Learning
- Cheating in School— How the Digital Age Affects Attitudes About Plagiarism [Infographic]
- U of Phoenix: Raises tuition, Enrollment drops, Still Making Plenty of Cash
- Guest Column from Hansoo Lee of Magoosh.com: SAT Scores are Falling – Now What?
- Kindergarteners At The Keyboard: A Look At KIPP Schools in Los Angeles
MARKET INTRADAY SNAPSHOT
- Education & Tech Companies We Follow
Cost of Education, Domestic, Education Quality, Ethics, For-Profit, Regulatory, Required, Students, University & College - Mar 11, 2012 21:17 - 0 Comments
More In For-Profit
- Heard: MOOCs Growing From Stanford to Georgia Tech to MIT to Udacity and Udemy
- Heard: California Applies Headlock, Begins Clamp Down On For-Profit Colleges
- Heard: Capella University On The Ropes But Planning For A Comeback In Round 4
- Hungry Hippos: For-Profits Gobble Up Half of Military Education Benefits
- Researchers Find Students At For-Profit Colleges More Likely To Be Unemployed
Blended Learning, Domestic, Elementary / Primary / Junior, Flipped Classrooms, High school / Secondary 2, International, Open Source Education, Required, School teachers, Startups, Students, Technology - Mar 12, 2012 19:04 - 0 Comments
More In Technology
- Opinion: Online Tutoring Disrupting Traditional Tutor Model, But Expanding The Tutor Industry
- The “Mathlash”: Mathmeticians Strike Back Against Silicon Valley’s Foray Into Math Edu
- Shantanu Sinha of Khan Academy Explains The Gamification Approach of Khan
- Fast Company Ranks The 10 Most Innovative Education Companies
- Must See: Interactive Tour of the Universe — Online Tool for Teachers and Gawkers
Domestic, Education Quality, For-Profit, Friend, Fraud, or Fishy, Required, University & College - Feb 10, 2012 16:36 - 0 Comments
More In Friend, Fraud, or Fishy
- Infographic & Video: Is America Witnessing A Growing Education Bubble? Part II Of II
- Investigative Opinion: For-Profit Kaplan University’s $250 Million Payout To Former Executives
- Heard: Mitt Romney Takes Money From, Offers Praise To Full Sail University Leaders
- Heard: New York Attorney General Is Investigating Pearson Education – NYTimes.com
- Guest Column: A Response To Occupy Wall Street’s View Of Student Debt