Hellman & Friedman is buying Renaissance Learning, an educational assessment and learning analytics company, from Permira for $1.1 billion. Renaissance provides a variety of educational tools and products, ranging from cloud-based assessment software to accelerated reading programs. It also provides training to teachers and administrators, among other services.
Permira, which took Renaissance private in 2011 for about $455 million, could reportedly reap a 4x return on its original investment. The agreement comes less than a month after Google Capital invested $40 million in the company at a $1 billion valuation. Google Capital is expected to remain an investor in the company.