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Clearlake Capital To Acquire Discovery Education From Francisco Partners

Mar 09, 2022over 3 years ago

Acquiring Company

Clearlake Capital

Acquired Company

Discovery Education

Santa MonicaCharlotteEducation

Description

Discovery Education, Inc., ("Discovery Education" or the "Company"), a global edtech company whose digital learning software platform supports educators and improves student achievement, today announced it has entered into a definitive agreement to be acquired by an affiliate of Clearlake Capital Group, L.P. (together with its affiliates, "Clearlake"). Upon closing of the transaction, Clearlake will become the majority shareholder while Francisco Partners will retain a minority equity stake. Scott Kinney, CEO of Discovery Education, will continue to lead the Company supported by the existing management team. The terms of the transaction were not disclosed.

Company Information

Company

Clearlake Capital

Location

Santa Monica, California, United States

About

Clearlake Capital Group, L.P. and Francisco Partners are global private equity firms with a strong track record of investing in growing software platforms. They specialize in working with leading technology companies to carve out divisions and business units that can benefit from greater focus and flexibility as standalone entities, and where their operating teams can bring resources and expertise to help accelerate growth.

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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