LearnPlatform empowers educators and their
organizations to evaluate and manage digital learning products to
improve student outcomes
SALT
LAKE CITY, Dec. 15, 2022 /PRNewswire/ -- Instructure
Holdings, Inc. (Instructure) (NYSE: INST) today announced it has
completed the acquisition of LearnPlatform, the leading provider of
technology that enables educators and their institutions to
research, select and evaluate digital learning solutions. This
unique platform equips stakeholders across the educational
landscape with real-time, meaningful insight into the effectiveness
of their tools of choice. This acquisition accelerates the impact
of the Instructure Learning Platform for schools, universities, and
shared partner providers by adding evidence-based insight into
inventory, compliance, procurement, and usage.
The acquisition demonstrates and strengthens Instructure's
commitment to building an open, transparent and integrated teaching
and learning platform for the education industry. The combination
of LearnPlatform's capabilities with Instructure's Learning
Platform delivers a new, partner-friendly offering that helps
educators, schools and universities ensure that every learning
technology choice they make is delivering on their intended
outcome.
"The acquisition of LearnPlatform underscores Instructure's
commitment to building an open global education platform," said
Steve Daly, CEO of Instructure.
"K-12 and Higher Ed institutions need an efficient, research-based,
insight-rich solution that drives the selection and ongoing
management of the sprawling learning technology landscape. We
believe that adding these solutions gives our customers and
partners even more ways to measure the impact of their investments
and drive student outcomes for each and every student."
Based in North Carolina, the
LearnPlatform team has approximately 70 employees. Since 2015, the
company has equipped educators, leaders, policymakers and edtech
partners with the tools to modernize their learning
environments.
"We're thrilled to join Instructure, a company dedicated to
amplifying the power of teaching," said Karl Rectanus, CEO of LearnPlatform. "As
institutions and districts seek to understand and improve the
effectiveness of their digital learning environments, the
combination of LearnPlatform and Instructure will accelerate access
to the trustworthy, independent evidence they need to inform
decisions, providing customers and partners unprecedented insight
into the learning journey of students."
With this acquisition, Instructure is building upon its
commitment to a robust partner ecosystem. Instructure currently has
more than 600 partners. By adding LearnPlatform, Instructure
enhances capabilities for current and future partners who serve the
educational community. With over 10,000 EduApp provider listings in
the LearnPlatform ecosystem, Instructure can now offer even more
value to its partners.
The terms of the transaction were not disclosed.
ABOUT INSTRUCTURE
Instructure (NYSE: INST) is an education technology company
dedicated to elevating student success, amplifying the power of
teaching, and inspiring everyone to learn together. Today the
Instructure Learning Platform supports tens of millions of
educators and learners around the world. Learn more at
www.instructure.com.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking" statements, which
are subject to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, including statements regarding the
potential, timing and examples of any strategic alternatives. These
statements are not guarantees of future performance, but are based
on management's expectations as of the date of this press release
and assumptions that are inherently subject to uncertainties, risks
and changes in circumstances that are difficult to predict.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual results,
performance or achievements to be materially different from any
future results, performance or achievements.
Forward-looking statements also reflect management's evaluation
of information currently available and are based on Instructure's
current expectations and assumptions regarding the acquisition of
LearnPlatform (the "Acquisition"), the integration of
LearnPlatform, the economy and other future conditions.
Forward-looking statements about the Acquisition are subject to
inherent uncertainties, risks and other factors that are difficult
to predict and could cause actual results to vary in material
respects from what we have expressed or implied by these
forward-looking statements. Specific factors that could cause
future results to differ from those expressed or implied by the
forward-looking statements include, but are not limited to: (i)
failure to realize the expected benefits of the Acquisition; (ii)
unknown or inestimable liabilities of LearnPlatform assumed in the
Acquisition; (iii) the risk that LearnPlatform's business will not
be integrated successfully or that such integration may be more
difficult, time-consuming or costly than expected; (iv) risks
related to future opportunities and plans following the
Acquisition, including the uncertainty of expected future financial
performance and results of LearnPlatform; and (v) the effect of the
announcement of the Acquisition on the ability of Instructure to
operate. Other important factors that could cause actual results to
differ materially from those expressed or implied by these
forward-looking statements include the risk factors described in
the Instructure's annual report on Form 10-K filed with the
Securities and Exchange Commission (the "SEC") on February 22, 2022 and other documents filed with
the SEC and could cause actual results to vary from expectations.
All information provided in this press release is as of the date
hereof and Instructure undertakes no duty to update this
information except as required by law.
MEDIA CONTACT:
Brian
Watkins
Corporate Communications
Instructure
801-610-9722
brian.watkins@instructure.com
INVESTOR CONTACT:
April
Scee
Managing Director
ICR, Inc.
917-497-8992
investors@instructure.com
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SOURCE Instructure Holdings, Inc.