Blackstone, CPPIB to buy Ascend Learning from Providence, OTPP
U.S. private equity firm Blackstone Group and Canada Pension Plan Investment Board (CPPIB) have agreed to acquire Ascend Learning LLC, a Burlington, Massachusetts provider of educational content, software and analytics solutions. No financial terms were disclosed; however, Reuters earlier reported the deal is valued at more than US$2 billion, including debt. The sellers are Providence Equity Partners and Ontario Teachers' Pension Plan (OTPP). Providence, a U.S. private equity firm and Ascend's current majority owner, formed the business in 2010 by merging several companies it had previously acquired.
16 April 2017•5 mins read
