VSS Merges Two Education Materials Companies

Veronis Suhler Stevenson backed Cambium Learning has agreed to merge with Voyager Learning (Pink Sheets, VLCY.PK). Cambium-Voyager Holdings will acquire Voyager for $194 million and Cambium for $158 million plus the assumption of $168 million of its debts, for a total deal value of approximately $520 million. VSS will own a majority of the merged education materials company and hopes to list the company on the NASDAQ following the completion of the merger.