Dive Brief:
- Private equity firm Vista Equity Partners will acquire the PowerSchool student information system from Pearson in a $350 million deal.
- PowerSchool was developed in 1997 and purchased by Apple in 2001 before being sold to Pearson in 2006.
- Vista doesn't intend to shake things up with its acquisition, and PowerSchool's 4,200 customers have been told business will continue as usual.
Dive Insight:
According to an earnings report released in March, PowerSchool brought in $97 million in revenue and had an operating income of $20 million. It is currently used by 13 million students in 70 countries.
Earlier in February, EdSurge reported that Blackboard was in the running to purchase PowerSchool. In March, Pearson announced that PowerSchool would partner with Instructure to integrate the SIS with its Canvas LMS.
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