Blackstone, Providence to ink $2B Ascend Learning SBO
April 17, 2017
The deal occurs in an educational software sector that’s drawn increasing interest from private equity. The past two years were the busiest in the space out of the past 10 when it comes to PE deal activity, according to the PitchBook Platform, peaking with 28 transactions in 2015. As with PE’s uptick in interest in IT as a whole, the industry’s newfound attraction to educational software is likely driven by its maturity, as a class of companies founded in the not-too-distant past reach an age more consistent with the private equity model.
For Blackstone, meanwhile, the announced secondary buyout of Ascend Learning is the continuation of what’s already been a hectic April.
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