DALLAS, March 17, 2021 (GLOBE NEWSWIRE) -- Cambium Learning® Group (“Cambium”), a leading provider of digital education solutions and a portfolio company of Veritas Capital, today announced that it has completed its sale of Rosetta Stone’s Languages division to IXL Learning. Cambium Learning Group will retain Lexia Learning, a leader in the PreK-12 literacy space. Cambium previously closed the acquisition of Rosetta Stone and Lexia Learning in October 2020.
Founded in 1992, Rosetta Stone's Languages division uses innovative digital solutions to help all types of learners read, write, and speak more than 30 languages. Under its brand, Rosetta Stone provides technology-based language solutions to individual customers, schools and businesses globally.
For more than 30 years, Lexia Learning has been on the leading edge of research and product development as it relates to student reading skills. With a robust offering that includes solutions for differentiated instruction, personalized learning, and assessment, Lexia Learning provides educators with the tools to intensify and accelerate literacy skills development for students of all abilities.
“The close of this transaction represents an important strategic moment for Cambium, as we sharpen our K-12 portfolio of digital curriculum and assessment tools,” said John Campbell, Chief Executive Officer of Cambium. “Now that we have integrated the Lexia Learning business, we will continue to explore new opportunities to address education’s most pressing challenges.”
Ramzi Musallam, Chief Executive Officer and Managing Partner of Veritas added, “Cambium focuses on acquisitions that are brand-aligned and strategic. By adding Lexia Learning to its already-leading literacy offering, John and his team have made another substantial addition in K-12 education’s most urgent area.”
About Cambium Learning Group
Cambium Learning® Group is the education essentials company, providing award-winning education technology and services for K-12 markets. With an intentionally curated portfolio of respected global brands, Cambium serves as a leader in the education space, helping millions of educators and students feel more universally valued each and every day. In everything it does, the company focuses on the elements that are most essential to the success of education, delivering simpler, more certain solutions that make a meaningful difference right now. To learn more, visit www.cambiumlearning.com or follow Cambium on Facebook, LinkedIn, Twitter, and Medium.
The Cambium family of companies includes: Cambium Assessment, Lexia® Learning, Learning A-Z®, Voyager Sopris Learning®, ExploreLearning®, Time4Learning®, and Kurzweil Education®.
About Veritas Capital
Veritas is a longstanding investor in companies operating at the intersection of technology and government. The firm invests in companies that provide critical products and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide, including those operating in the healthcare, national security, software, education, aerospace & defense, government services, communications, and energy industries. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. For more information on Veritas, visit www.veritascapital.com.
Media Contact
John Jorgenson
CMO, Cambium Learning Group
520.204.2452 / john.jorgenson@cambiumlearning.com