Dallas and Lincoln, Neb. — Sept. 22
Cambium Learning Group Inc., an educational company focused on serving the needs of at-risk and special student populations, announced that it signed an agreement to purchase the assets of Class.com, a provider of online learning products for students and adult learners, for roughly $4.5 million in cash. The transaction is expected to close in October, and is subject to the approval of Class.com shareholders.
Founded in 1999, Class.com commercializes technology and delivers online courses for grades seven through 12 to schools around the country. The courses reflect current learning sciences research and are updated on a regular schedule to integrate new content and technology that’s relevant to today’s youth.
Class.com also provides accredited instruction through Lincoln National Academy, an online high school where exceptional teachers accompany Class.com’s courseware. All courses are led by certified teachers endorsed in the subject area they teach. Following established best practices in online learning, teachers use a variety of methods to connect with students, including e-mail, chat and logging on with students each day for real-time interaction.
Class.com employs roughly 30 people who serve as cross-disciplinary instructional designers, subject-matter experts, classroom teachers and multimedia professionals to develop each course from the ground up for online delivery. For the 12 months ended Sept. 30 of last year, Class.com posted revenues of $4.3 million.
Source: Cambium Learning Group, Inc.