Nerdy Acquires Coding Education Startup As Demand For Computer Science Education Grows

Aug 15, 2022•almost 3 years ago

Acquiring Company

Nerdy

Acquired Company

Codecademy

EdtechLanguage LearningE LearningEducation

Description

Nerdy Inc. (NYSE: NRDY), developer of Varsity Tutors, the popular online tutoring platform used by students from elementary school through college and adulthood, today announced that it is adding immersive coding classes to its fast-growing library of academic and enrichment programs. The acquisition of Codeverse, an award-winning creative online platform where kids build apps and games with real code, will enable Nerdy to meet the growing demand for computer science and coding education with consumers and in schools.

Company Information

Company

Nerdy

About

Nerdy (NYSE: NRDY) is a leading platform for live online learning, with a mission to transform the way people learn through technology. The Company’s purpose-built proprietary platform leverages technology, including AI, to connect learners of all ages to experts, delivering superior value on both sides of the network. Nerdy’s comprehensive learning destination provides learning experiences across 3,000+ subjects and multiple formats—including one-on-one instruction, small group classes, large format group classes, and adaptive self-study. Nerdy’s flagship business, Varsity Tutors, is one of the nation’s largest platforms for live online tutoring and classes. Its solutions are available directly to students and consumers, as well as through schools and other institutions. Learn more about Nerdy at https://www.nerdy.com/.

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed