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Cambium to set up K-12 platform through AIR Assessment deal
Posted on Friday, 23 August 2019 11:05
Cambium Learning Group, a portfolio company of Veritas Capital, is acquiring US-based AIR Assessment, the student assessment division of the American Institutes for Research (AIR), for an undisclosed sum.
Despite no financial details being announced, the deal remains subject to regulatory reviews and closing conditions.
AIR plans to use the proceeds from the transaction to expand its research, evaluation and technical assistance operations across the education, health and workforce development sectors in the US.
Formed in 2017, the target is billed as one of the nation’s fastest-growing brands within the assessment industry.
AIR Assessment studies the rate of student progress through online and paper testing and relays the information back to schools and educators through reports and statistics.
It also offers alternative programmes to monitor pupils with severe cognitive disabilities, using electronic tablets to allow the students to answer questions via pictorial responses.
Last year, the division delivered close to 60.00 million online tests across more than 20 states.
Ramzi Musallam, chief executive of private equity firm Veritas, said: “Cambium Learning’s acquisition of AIR Assessment creates a market leading K-12 [kindergarten to 12th grade] focused education technology platform providing end-to-end instruction and assessment.”
Established in 2009, the acquiror claims to be one the leading educational technology services companies.
It operates through brands such as Learning A-Z, which provides online resources to help children improve their literacy.
Other companies within its portfolio include ExploreLearning and Voyager Sports.
According to Zephyr, there have been 37 deals announced worldwide since the beginning of 2019 that target educational support services providers.
The largest of these to be signed off involved Arco Platform buying Brazil’s Sistema Positivo de Ensino for BRL 1.65 billion (USD 407.95 million).
Other companies targeted in this sector this year include IDP Education, CollegeVine and Pathstream.
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