SALT LAKE CITY, Feb. 19, 2019 /PRNewswire/ -- Instructure, Inc. (NYSE: INST), the leading software-as-a-service (SaaS) technology company that helps people learn and develop from their first day of school to their last day of work, today announced it has entered into an agreement to acquire Portfolium, the student success network built to showcase the achievements, projects, and competencies of dedicated students to potential employers.
Portfolium was created to help every person realize their full potential by connecting their learning with opportunity. The company helps institutions inspire, assess, and showcase student achievements via its powerful ePortfolio network, student-centered assessment, job matching capabilities, and academic and co-curricular pathways.
"Working with Portfolium advances our mission since it enables us to help people move from the classroom to the workplace," said Dan Goldsmith, CEO of Instructure. "Portfolium has been a great partner of ours. With their team, and by adding their student success capabilities built on the leading learner network, we will together provide more value to both current and new customers."
Portfolium was founded in 2014 and is located in San Diego. To date, Portfolium has helped millions of students from more than 3,600 academic institutions, including Australia'sSwinburne University, Virginia Tech, and Santa Clara University, prove their skills and launch their careers while providing educators and employers with the tools they need to assess learning outcomes, build pathways, and recruit talent.
"Canvas and Portfolium enable Santa Clara students to collect, reflect on, and showcase their achievements," said Nancy Cutler, Deputy CIO for Academic Technology, Santa Clara University. "We are excited to see a deeper partnership between Canvas and Portfolium that will help us meet our student success goals."
"We created Portfolium to connect learning with opportunity by enabling students to recognize, showcase, and articulate the skills and competencies they acquire along their academic journeys," said Adam Markowitz, Founder and CEO of Portfolium. "We've been a proud Instructure partner for years, and are excited to expand on our vision to support lifelong learning and development as part of the Instructure family."
The acquisition is expected to close within the next seven days and is subject to satisfaction of customary closing conditions, including approval by Portfolium's stockholders.
FORWARD-LOOKING STATEMENTS 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 Instructure's potential acquisition of Portfolium. These statements are based on management's expectations as of the date of this press release and are subject to uncertainties, risks and changes in circumstances that are difficult to predict, such as Instructure's ability to timely close the acquisition of Portfolium and successfully implement and achieve cost synergies and otherwise integrate Portfolium following closing, and other risks and uncertainties detailed in Instructure's filings with the Securities and Exchange Commission, including, without limitation, its Form 10-K and other reports on Forms 8-K and 10-Q, all of which can be obtained on the SEC website at www.sec.gov. Instructure assumes no obligation to update or revise publicly any forward-looking statements contained in this release, except as required by law.
ABOUT INSTRUCTURE Instructure, Inc. is the leading software-as-a-service (SaaS) technology company that helps people learn and develop, from their first day of school to their last day of work. Its software solutions include Canvas, the learning platform that simplifies teaching and elevates learning, and Bridge, the employee development and engagement solution for people-focused companies. To date, Instructure has connected millions of educators and learners at more than 4,000 educational institutions and corporations throughout the world. Learn more about Canvas for higher ed and K–12 and Bridge for companies at www.Instructure.com.
ABOUT PORTFOLIUM Portfolium is a full-stack student success platform serving 4.6M+ students and 40K+ educators from 3,600+ colleges, universities, and high schools. 200+ partner institutions use Portfolium to deploy robust ePortfolio networks as they manage and align learning outcomes assessment, digital badging, guided pathways, and career readiness programs. Learn more: https://portfolium.com/