LightSail Announces Acquisition by Agile Investment Group
Transaction Furthers LightSail's Vision of Improving Literacy Globally
NEW YORK, Feb. 26, 2018 /PRNewswire/ -- LightSail Education today announced that it has been acquired by Agile Group, a technology firm focused on education platforms. Agile was attracted to LightSail's vision of improving the literacy outcomes for students in the US and around the world. LightSail's adaptive platform provides each student with a customized and dynamic library tailored to their individual reading level while providing educators with insightful data to guide their students to success. LightSail is being used by hundreds of thousands of K-12 students in schools and districts nationwide and in more than a dozen countries. The company will continue to operate as LightSail Education.
"LightSail has developed a best-in-class literacy platform in the market and created a collection of high-quality content through our Antares imprint," says Gideon Stein, LightSail's founder. "We are excited to have found the right strategic partner who brings a substantial amount of technical expertise and financial resources to continue the critically important work LightSail set out to do when we launched five years ago."
Agile is investing significantly in the LightSail platform, and LightSail recently deployed several school districts on its new HTML5 platform. In addition, Agile will be rolling out a parent portal shortly and continuing to invest in high quality Antares content for students and schools.
Eric Solat, Agile's Vice President for North America, stated, "We are incredibly excited about our acquisition of LightSail. After visiting numerous LightSail schools, we were deeply impressed with the level of student engagement and the success stories we witnessed in classrooms." He added, "We're focused on continuing to support schools as we expand across the US and abroad."
Good Harbor Partners was the exclusive financial advisor to LightSail Education in this transaction. Financial terms of the transaction were not disclosed.
About LightSail
LightSail is the adaptive reading platform that helps students, classrooms, and school districts exceed their literacy goals.
LightSail students get access to personalized libraries filled with thousands of engaging, just-right texts to choose from. Its award-winning solution embeds in-text assessments that motivate students to increase the volume of their reading along with the difficulty of the texts they choose.
LightSail teachers get real-time access to meaningful data about student reading behavior, comprehension, LexileⓇ level and growth so they can provide the necessary guidance to enhance learning and encourage a love of reading. For more information, visit lightsailed.com.
LightSail has been honored with many industry awards, including:
| ● 5-Star Rating Graphite Site for Educators |
Common Sense Media |
| ● Winner, 'Mindful Data' Digital Innovation in Learning Award |
EdSurge & Digital Promise |
| ● Top Honors in the Literacy Courseware Challenge |
Gates Foundation |
| ● Educators' Choice and Most Likely to Succeed |
SIIA Ed Business Forum |
| ● Return On Education VentureED Award |
ASU-GSV |
| ● One of Ten Companies Revolutionizing Entrepreneurship |
Forbes Magazine |
SOURCE LightSail
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