Dec 15, 2022, 16:05 ET
LearnPlatform empowers educators and their organizations to evaluate and manage digital learning products to improve student outcomes
SALT LAKE CITY, Dec. 15, 2022 /PRNewswire/ -- Instructure Holdings, Inc. (Instructure) (NYSE: INST) today announced it has completed the acquisition of LearnPlatform, the leading provider of technology that enables educators and their institutions to research, select and evaluate digital learning solutions. This unique platform equips stakeholders across the educational landscape with real-time, meaningful insight into the effectiveness of their tools of choice. This acquisition accelerates the impact of the Instructure Learning Platform for schools, universities, and shared partner providers by adding evidence-based insight into inventory, compliance, procurement, and usage.
The acquisition demonstrates and strengthens Instructure's commitment to building an open, transparent and integrated teaching and learning platform for the education industry. The combination of LearnPlatform's capabilities with Instructure's Learning Platform delivers a new, partner-friendly offering that helps educators, schools and universities ensure that every learning technology choice they make is delivering on their intended outcome.
"The acquisition of LearnPlatform underscores Instructure's commitment to building an open global education platform," said Steve Daly, CEO of Instructure. "K-12 and Higher Ed institutions need an efficient, research-based, insight-rich solution that drives the selection and ongoing management of the sprawling learning technology landscape. We believe that adding these solutions gives our customers and partners even more ways to measure the impact of their investments and drive student outcomes for each and every student."
Based in North Carolina, the LearnPlatform team has approximately 70 employees. Since 2015, the company has equipped educators, leaders, policymakers and edtech partners with the tools to modernize their learning environments.
"We're thrilled to join Instructure, a company dedicated to amplifying the power of teaching," said Karl Rectanus, CEO of LearnPlatform. "As institutions and districts seek to understand and improve the effectiveness of their digital learning environments, the combination of LearnPlatform and Instructure will accelerate access to the trustworthy, independent evidence they need to inform decisions, providing customers and partners unprecedented insight into the learning journey of students."
With this acquisition, Instructure is building upon its commitment to a robust partner ecosystem. Instructure currently has more than 600 partners. By adding LearnPlatform, Instructure enhances capabilities for current and future partners who serve the educational community. With over 10,000 EduApp provider listings in the LearnPlatform ecosystem, Instructure can now offer even more value to its partners.
The terms of the transaction were not disclosed.
Instructure (NYSE: INST) is an education technology company dedicated to elevating student success, amplifying the power of teaching, and inspiring everyone to learn together. Today the Instructure Learning Platform supports tens of millions of educators and learners around the world. Learn more at www.instructure.com.
This press release contains "forward-looking" statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the potential, timing and examples of any strategic alternatives. These statements are not guarantees of future performance, but are based on management's expectations as of the date of this press release and assumptions that are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements.
Forward-looking statements also reflect management's evaluation of information currently available and are based on Instructure's current expectations and assumptions regarding the acquisition of LearnPlatform (the "Acquisition"), the integration of LearnPlatform, the economy and other future conditions. Forward-looking statements about the Acquisition are subject to inherent uncertainties, risks and other factors that are difficult to predict and could cause actual results to vary in material respects from what we have expressed or implied by these forward-looking statements. Specific factors that could cause future results to differ from those expressed or implied by the forward-looking statements include, but are not limited to: (i) failure to realize the expected benefits of the Acquisition; (ii) unknown or inestimable liabilities of LearnPlatform assumed in the Acquisition; (iii) the risk that LearnPlatform's business will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; (iv) risks related to future opportunities and plans following the Acquisition, including the uncertainty of expected future financial performance and results of LearnPlatform; and (v) the effect of the announcement of the Acquisition on the ability of Instructure to operate. Other important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements include the risk factors described in the Instructure's annual report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on February 22, 2022 and other documents filed with the SEC and could cause actual results to vary from expectations. All information provided in this press release is as of the date hereof and Instructure undertakes no duty to update this information except as required by law.
SOURCE Instructure Holdings, Inc.
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