Francisco Partners, a global investment firm that specializes in partnering with technology businesses, has acquired VitalSource Technologies LLC, an education technology solutions provider committed to helping partners create, deliver, and distribute learning experiences worldwide, from Ingram Content Group.
“We are very proud of the extraordinary value-add VitalSource offers the academic and professional communities. VitalSource has grown into one of the leading digital curriculum delivery and learning platform providers with proven scalability and reliability at a time where digital content and online learning is very much in demand,” said Ingram Content Group President & CEO Shawn Morin. “Francisco Partners is committed to furthering the VitalSource mission of improving learner outcomes and accelerating our commitment to developing innovative, forward-thinking solutions and platforms that open doors to affordable and impactful learning experiences to students and professionals around the world.”
“We are excited to partner with the VitalSource team to improve the affordability and learning experience for all students,” said Jason Brein, Partner at Francisco Partners.
“We are grateful to Ingram Content Group for the opportunity to invest in VitalSource during its next phase of growth and look forward to leveraging our education technology investment expertise to further transform the business,” added Paul Ilse, senior operating partner at Francisco Partners Consulting.
“We’re thrilled to have entered this agreement with Francisco Partners and be in the position to drive continued digital transformation across all of our segments,” said VitalSource president Kent Freeman. “This acquisition is a great fit for our business, for our team, and for our customers and partners. It ensures that we will be able to expand our efforts to deliver affordable and impactful learning solutions for students and professionals. We are proud of the work we have done to become a leader in the educational technology industry, and we are poised to accelerate those efforts with this investment from Francisco Partners. I couldn’t be more excited to lead the team into this next part of VitalSource’s journey.”