Edtech firm Instructure bought by Thoma Bravo for $2bn
In a $2 billion deal, Thoma Bravo has acquired Utah-based educational software maker Instructure, with the acquisition expected to come in to effect in the next few months.
Acquisition by Thoma Bravo unanimously approved by Instructure board
In December last year, private equity investment firm Thoma Bravo purchased Instructure in a cash transaction worth approximately $2 billion.
The firm predominately focuses on software and technology service sectors, and aims to assist in edtech innovation and international expansion of Instructure into its future.
Holden Spaht, Managing Partner at Thoma Bravo, stated that “Instructure’s Canvas product is the gold standard for learning management systems in the global education market”.
Instructure’s platforms used by over 30mn staff and students worldwide
Instructure has been a leading maker of educational software since 2008.
Based in Utah’s Salt Lake City with regional offices both across the US and abroad, the company began with two college graduates’ goal to transform learning management systems.
Instructure’s Canvas Learning Management Platform and the Bridge Employee Development Platform have been used by over 30 million staff and students in over 70 countries across the globe.
Dan Goldsmith, CEO of Instructure, expressed optimism for the success of this partnership.
Goldsmith said: “Instructure believes the opportunity to become a private company will provide additional flexibility and position us to invest more strategically to drive innovation for our customers.
“We look forward to working closely with all parties to complete this transaction and enter into our next chapter of growth and industry leadership.”
Brian Jaffee, Principal at Thoma Bravo, also expressed his excitement for the future following the deal.
Jaffee said: “We’ve followed the impressive Instructure growth story for many years and believe Canvas is a highly unique vertical market SaaS leader with exciting scale and future growth potential.
“We look forward to building on the strong momentum in the business and accelerating growth and product investment both organically and through M&A.”
Pic: Van Tay Media
Josephine Walbank is a reporter for Global Education Times (GET News) with a focus on education in the UK, Asia-Pacific, and Americas, and student experience and lifestyle news.
Josephine is an experienced journalist who previously served as the Editor-in-Chief of The Falmouth Anchor. She is also the former Deputy Editor of Voices, the Falmouth & Exeter Students’ Union’s publication, and has written for various food and lifestyle publications.
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