Connect with us

Acquisition

Kahoot! acquires US K-12 EdTech learning platform Clever

Published

on

Kahoot! acquires US K-12 EdTech learning platform Clever

Kahoot!, the global learning platform company, has completed  the acquisition of Clever, a privately-held, California-based company that is one of the most widely-used digital learning platforms in U.S. K-12 education.

Kahoot! and Clever are joining forces as two mission-driven companies, passionate about improving education through the use of technology. The Clever platform brings schools, teachers, students and education application developers together in a single sign-on digital learning platform that simplifies accessible learning. Kahoot!’s learning platform offers engaging learning experiences and user and partner-generated content to millions of learners worldwide, including its suite of family-friendly learning apps, rapidly growing viral distribution model and global scale.

Together, Kahoot! and Clever will provide improved digital learning solutions and offerings for educators, students, parents, schools and districts globally, helping learners unleash their full learning potential. Clever serves educators in more than 90,000 U.S. K-12 schools, 96 of the top 100 U.S. school districts as well as more than 20 million active students monthly. Kahoot! is used by more than 9 million educators globally and had 1.9 billion participating players from 200 countries on its platform in the last 12 months.

Making learning awesome, together

“This is a huge milestone for the Kahoot! Group,” said Eilert Hanoa, CEO at Kahoot!. “First and foremost, we see in Clever a passionate leadership and a world-class team that are just as committed to empowering educators and learners as we are. With that foundation, we see tremendous potential for the combined companies to serve even more educators, learners, parents and partners with consistently innovative products and practical solutions that respond to their specific needs, and provide the seamless experiences they’ve come to expect from both Kahoot! and Clever. We can’t wait to start making learning awesome together.”

“We founded Clever inspired by the belief that technology would become a powerful way to make learning more engaging, make teachers’ lives easier, and increase equity in education,” said Tyler Bosmeny, co-founder and CEO, Clever. “Today we’re thrilled to be joining Kahoot! to make this vision more real every day for students and teachers around the world.”

Complementary strengths that create unique advantage 

On the heels of a busy back-to-school season, as students and teachers return to the classroom for the new school year and others continue to follow either remote or blended learning models, digital learning tools that streamline access to engaging educational content and experiences will remain essential.

As a first step, the Kahoot!’s family of learning apps will gradually be made available on the Clever platform enhancing distribution channels for Kahoot! and provide unprecedented reach to Clever’s audience of thousands of schools and districts and millions of students. In return, the collaboration will generate synergies that will create additional potential for geographic market expansion for both companies. The acquisition will add value to Kahoot!’s already strong presence in the U.S. education sector and similarly will provide the opportunity to extend Clever’s platform across Kahoot!’s existing reach of over 200 countries in the years to come.

By joining forces, both Kahoot! and Clever will strengthen their ability to serve not only at the individual teacher and consumer level, but also possess the knowledge and expertise to effectively provide their offerings at the school and district level. This is especially critical with the continued rapid expansion and complexity of the U.S. EdTech ecosystem as it relates to data privacy, security and compliance required by school districts. The combined teams of Kahoot! and Clever will generate additional opportunities for larger school district agreements in the U.S. and globally.

In addition, the companies will jointly work to offer a compelling marketplace proposition for all learning apps, as well as continuous improved offering of learning tools to all users.

Transaction Terms 

As per the previously announced transaction terms, Kahoot! Group has acquired 100% of the shares in Clever Inc. for a total consideration reflecting an Enterprise Value (EV) of USD 435 – 500 million, on a cash and debt free basis, including an up to USD 65 million 2021-2022 performance-based element. The total consideration will be settled by a combination of approximately 82% cash and 18% Kahoot! shares.

Clever is now wholly-owned by the Kahoot! Group, and Clever Inc. will continue to operate as an independent company, led by its strong management team to continue to provide an open platform and operate under the Clever brand.

Forward looking statement

  • For the full year 2021, the Kahoot! Group reiterates the ambition to reach $90-100 million in invoiced revenue with continued solid positive cash flow from operations and to reach 1.1 million paid subscriptions. In addition, Clever Inc, which is now part of the Kahoot! Group, is expected to exceed $15 million in invoiced revenue for the four month period from September till December 2021, and exceed $46 million in invoiced revenue for the full year 2021.
  • For the third quarter 2021, the Kahoot! Group expects invoiced revenue of $22 million, representing approx. 90% YoY growth, and to reach 1 million paid subscriptions. In addition, Clever is expected to exceed $4 million in invoiced revenue for the month of September 2021.
  • The Company will explore the opportunity for a secondary listing, with timing of the listing being subject inter alia to the closing of the Clever transaction.

A company presentation with Clever will be held on Wednesday September 8, 2021. Sign up on www.kahoot.com/clever.

For more information about Clever, see the Clever overview on www.kahoot.com/clever.

Kahoot!

Alejandro Viquez, Communications Manager at Kahoot!

alejadror@kahoot.com or press@kahoot.com

Clever

Liz Stein, Whiteboard Advisors for Clever

liz.stein@whiteboardadvisors.com

About Kahoot!

Kahoot! is on a mission to make learning awesome! We want to empower everyone, including children, students, and employees to unlock their full learning potential. Our learning platform makes it easy for any individual or corporation to create, share, and play learning games that drive compelling engagement. Launched in 2013, Kahoot!’s vision is to build the leading learning platform in the world. In the last 12 months, 300 million games have been played on the Kahoot! platform with 1.9 billion participating players in more than 200 countries. The Kahoot! family also includes award-winning DragonBox math learning apps, the Poio learn to read app, the Drops language learning apps, the Actimo and Motimate employee engagement and corporate platforms and Whiteboard.fi, the online whiteboard tool for all educators, teachers and classrooms. The Kahoot! Group is headquartered in Oslo, Norway with offices in the US, the UK, France, Finland, Estonia, Denmark and Spain. Kahoot! is currently listed on the Oslo Stock Exchange under the ticker KAHOT. Let’s play!

About Clever

Clever is on a mission to unlock new ways to learn for all students. Since 2012 our team has been driven by a belief that technology is a powerful lever to make learning more engaging, give teachers superpowers, and advance educational equity. Now, more than 50% of US K-12 students use Clever’s single sign-on and secure portal for simplified access to a world of digital learning. Over 90,000 schools, including 96 of the top 100 U.S. school districts, and a network of leading application partners rely on the Clever API for speedy implementation and seamless student engagement. Clever has offices in San Francisco, California and Durham, North Carolina, and you can visit us anytime at clever.com.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/kahoot-completes-acquisition-of-leading-us-k-12-edtech-learning-platform-clever-301368111.html

SOURCE Kahoot!

Acquisition

Schneider Electric acquires EV Connect to Accelerate EV Revolution

Published

on

Schneider Electric acquires EV Connect to Accelerate EV Revolution

Investment enables EV Connect to accelerate its growth, support customers and empower energy companies by optimizing EV charging infrastructure

EV Connect, Inc., a premier electric vehicle (EV) charging solution provider, announced that it has been acquired by Schneider Electric, the leader in energy management and automation. With a strong foundation in sustainability and eMobility, Schneider Electric’s acquisition of EV Connect will enable the Company to accelerate its growth. Along with the current management team, CEO and founder Jordan Ramer will continue to lead EV Connect’s operations as a distinct subsidiary, with continued focus on customer service and the Company’s overall mission.

“At Schneider Electric, we believe that electric and digital are the recipe for a more sustainable and more resilient world,” said Nadege Petit, Chief Innovation Officer at Schneider Electric. “EV Connect has a very similar vision. We look forward to working together to accelerate the EV revolution.”

“We are thrilled to partner with Schneider Electric. They not only support our strategic goals, but fully embrace the value of electricity as a transportation fuel managed by a robust and feature-rich networked EV charging platform,” said Jordan Ramer, CEO and founder at EV Connect. “With Schneider we are positioned to strengthen our presence in the EV market, and we look forward to the journey as we open a new chapter for EV Connect.”

About EV Connect

EV Connect is on a mission to build a better planet by enabling electricity as a transportation fuel. Through its innovative and open charging platform, EV Connect simplifies the set-up, management, and optimization of charging stations with premium customer service, from installation to driver support. EV Connect guides companies of all sizes in managing networks of chargers and delivers a seamless EV charging experience that empowers drivers.

Established in 2010, EV Connect is a subsidiary of Schneider Electric which serves customers across 41 states in the U.S., including GM, Avista Utilities, Love’s Travel Stops, Verizon, Marriott, Hilton, Western Digital, ADP, New York Power Authority, and numerous municipalities.

About Schneider Electric

Schneider Electric’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On.

Our mission is to be your digital partner for Sustainability and Efficiency.

We drive digital transformation by integrating world-leading process and energy technologies, endpoint to cloud connecting products, controls, software and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure and industries.

We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

Continue Reading

Acquisition

ROLLER Acquires Active8 Software, Increasing Global Presence

Published

on

ROLLER Acquires Active8 Software, Increasing Global Presence

The Combined Company Doubles Down on Helping Leisure and Attractions Customers Enhance the Guest Experience

ROLLER, an all-in-one venue management software company, announced today that their acquisition of Active8 Software has been finalized. The combined company, operating under the ROLLER name, provides all the tools venues in the leisure and attractions industry need to deliver unparalleled guest experiences worldwide. ROLLER’s acquisition of Active8 bolsters their global presence and underscores their commitment to helping its customers grow by enabling venues to more efficiently run their operations, increase attendance and spend per head, and deliver memorable guest experiences.

“We are absolutely thrilled to be welcoming Greg and the Active8 team into the ROLLER family. They share the same passion for enhancing the guest experience and helping customers to grow their businesses with technology. By joining forces, we are able to extend our global footprint and work together to deliver even more value for our customers. Exciting times ahead!” said Luke Finn, CEO of ROLLER.

“When I looked at how Active8 could best support our customers in the future, it was clear that we could move faster and better deliver on our commitment to our customers, by joining forces with ROLLER. ROLLER and Active8 are united by the same core mission of helping our customers deliver the best possible experience for their guests, so the decision was easy when I met the team at ROLLER and saw how we could help each other accelerate our customers’ growth. ROLLER’s technology is industry-leading and I’m very excited to be joining such an impressive team,” said Greg Spittle, CEO of Active8.

About ROLLER

With customers in over 25 countries, ROLLER’s vision is to help create experiences that bring joy and happiness to the world. They aim to achieve this by building technology for leisure and attraction businesses that helps them deliver amazing experiences for their guests. ROLLER is a complete software platform for the modern attraction. Their innovative products include: Ticketing, Point-of-Sale, Integrated Payments, CRM, Memberships, Gift Cards, Waivers, Self-Serve Kiosks, Cashless Wallets, the Guest Experience Score®, and more.

About Active8 Software

Launched in 2016, Active8 Software is a purpose-built point-of-sale software solution designed to accommodate the unique processes of trampoline parks, climbing gyms, ninja warrior gyms, and family entertainment venues. Their all-in-one system offers a full suite of features, including recurring memberships, ticketing, point of sale, CRM, party management, waivers, gift cards, employee scheduling and more. Active8 is headquartered in Lewisville, Texas.

Continue Reading

Acquisition

Investment Firm Highlander Partners Announces the Acquisition of McIntosh Group, a Leader in Premium Consumer Audio Technology

Published

on

Investment Firm Highlander Partners Announces the Acquisition of McIntosh Group, a Leader in Premium Consumer Audio Technology

McIntosh Group will serve as anchor for new Highlander luxury technology platform

Highlander Partners, L.P. (“Highlander”), a leading private investment firm, today announced the acquisition of McIntosh Group, through a newly-formed holding company (“the Group” or “the Company”).  McIntosh Group has been a leader and innovator in the high-end audio category for decades and today manufactures and globally distributes the world’s finest amplifiers, speakers, turntables and other audio products under several renowned brands.  The Company is driven by its dedication to quality performance, sophisticated technology, refined design, and artisan manufacturing.  These tenets have resulted in brands known for incomparable design, product quality and consumer experiences.

The Group is anchored by the legendary McIntosh brand.  Since 1949, McIntosh amplifiers have been engineered and handcrafted in Binghamton, New York and have undergone an incredible history, having powered events ranging from presidential inaugurations to Woodstock ’69.  McIntosh amps are globally renowned both for their iconic signature design – classic tubes, knobs and the beloved blue metered faceplate – as well as their unparalleled, powerful audio quality.

The Group also features Sonus Faber, a luxury designer and manufacturer of premium speakers.  Based in Vicenza, Italy, the brand’s heritage centers around its artisans’ craftsmanship, which leads to the creation of the most world’s most elegant audio products.  Sonus Faber offers a range of products spanning from masterfully designed loudspeakers to custom installed solutions and cutting-edge wireless streaming speakers. Like McIntosh, Sonus Faber blends design and innovation to create superior technological products that are also works of art, revered by audiophiles and design-minded consumers alike.

In addition, McIntosh Group provides fully integrated distribution services across North America, Central and South America, the United Kingdom, and Benelux for their owned brands as well as several third-party brands including Pro-Ject (premium turntables), Rotel (premium amplifiers and electronics), and Bassocontinuo (Italian-crafted audio racks).  The Group also boasts a thriving automotive entertainment business, providing audio technology for select premium models, including the Grand Wagoneer and Jeep Grand Cherokee L under the McIntosh brand and the Maserati Grecale and MC20 under Sonus Faber.

Jeff L. Hull, Highlander Partners President and CEO commented, “We have been evolving our investment strategy around consumer-focused brands and luxury goods over several years.  The opportunity to acquire brands as strong as those within the McIntosh Group does not come often and we are very excited to be part of the Company’s next chapter.  We believe there is a unique opportunity to acquire other consumer luxury technology brands and intend to stay active in the category.”

Jeff Poggi and Charles Randall, co-CEOs of the McIntosh Group commented, “We are thrilled to continue to pursue our growth trajectory alongside the Highlander team.  Across all brands and product categories we continue to see remarkable results and an excess of opportunity; we believe Highlander’s financial approach and operational expertise can help seize these prospects.”

Ben Slater, Partner at Highlander added, “McIntosh Group sits at the intersection of several strong trends that we are eager to be a part of.  The residential environment is rapidly evolving, with technology becoming an integral component throughout the home.  Moreover, consumers across the demographic spectrum are demanding high fidelity audio now more than ever, and premium brands such as McIntosh and Sonus Faber are increasingly viewed as functional pieces of art.”

Lincoln International LLC acted as financial advisor, and Shearman & Sterling LLP served as legal counsel for the McIntosh Group. Highlander Partners was represented by Katten Muchin Rosenman LLP as legal counsel.

About McIntosh Group

McIntosh Group is a leading designer, manufacturer, and marketer of high-end home audio equipment worldwide. The Company offers a broad suite of premium audio products across multiple brands, catering to a highly loyal base of audio enthusiasts and music lovers. The common denominator of all the McIntosh Group brands is the goal of bringing sound to life through quality products built to perform. McIntosh Group strives to ensure the long-term development of each of its brands in keeping with their identity, their heritage, and their expertise. For more information, visit www.mcintoshgroup.com.

About Highlander Partners

Highlander Partners, L.P. is a Dallas-based private investment firm with more than $2 billion of its own proprietary capital. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience. Highlander Partners employs a buy and build investment approach, creating value by helping companies grow both organically and through acquisitions. For more information, visit www.highlander-partners.com.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/highlander-partners-announces-the-acquisition-of-mcintosh-group-the-leader-in-premium-consumer-audio-technology-301568245.html

SOURCE Highlander Partners, L.P.

Continue Reading

Trending

Subscribe to our Free Newsletter

Get Business and Marketing Insights from Experts, only onTimes of Startups!

Your Information will never be shared with any third party