McGraw Hill Sold to Private Equity Firm | Walton Foundation Official Launches Ed. Investment Fund | Disputes Over Faculty Hiring

A Newsletter for Education Business Leaders [ ] [Advertisement](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) [edBiz Update | The news roundup for education business leaders] Powered by [EDWEEK Market Brief](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) [EDWEEK MARKET BRIEF](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r)  | [EDUCATION WEEK](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r)  | [ADVERTISE](mailto:mbakley@educationweek.org?subject=Advertising%20Opportunities)  | [JOBS](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) This issue of edBiz Update offers big news on transactions, and a look at daunting questions over higher education's financial picture.  In a deal estimated at $4.5 billion, McGraw Hill has been acquired by a private-equity firm, Platinum Equity. The education and publishing giant has been under the ownership of another PE firm, Apollo Global Management, for the past eight years. In the K-12 space, a top official at the Walton Family Foundation, Marc Sternberg, is leaving to launch an education-focused investment fund. And in California, there are big disputes about how aggressively state colleges should move in hiring faculty, or if they'll be stuck with long-term costs that are too high. K12 [ ] [ ] [alt]   [Walton Foundation Executive Leaves to Launch New K-12 Investment Fund (EdWeek Market Brief)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) Marc Sternberg, the K-12 education program director for the Walton Family Foundation, is leaving the organization to start a fund meant to support digital-first education companies. [ ] ADVERTISEMENT [Advertisement](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) Wondering What the Future of Digital Learning Might Be? Join your colleagues asking the same questions and explore answers together while hearing from experienced educators. DLAC Online: June 8, 14-16, and 30th. DLAC Onsite in Austin: June 14-16. [Learn More & Register](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) [ ] [alt]   [NYC Principals Caught Plugging Software From For-Profit Vendor (New York Post)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) At least 12 NYC principals have lent their names and schools to be used in promotional materials for a software vendor, which raked in more than $1.1 million from the state's Department of Education this year. [alt]   [Some in Congress Fear State Budget Decisions May Undercut COVID Education Relief (Education Week)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) A dispute in Wisconsin over coronavirus relief underscores how technical issues and politics are affecting education spending decisions. [Black Female Ed-Tech Founder Closes $8M Series A Round (Boston Inno)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) Founded with the mission to improve attendance rates for K-12 students, a locally based behavioral-science startup is using AI software to drive two-way texting chatbots to communicate with families. [alt]   [How Effective Is Your Ed-Tech Tool? Five Questions To Ask (The Tech Edvocate)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) Ed tech is becoming an increasingly popular tool in the classroom. However, teachers mustn't purchase just any technology. [alt]   [E-Sports Tournament Returns This Year (EdTech Magazine)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) Following a successful first year, the e-sports tournament is back with more focus on the gaming industry and plans to go even bigger. [A Changed K-12 Market: What Education CEOs See on the Horizon (EdWeek Market Brief)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) As students in many states return in person to classrooms, executives of education technology companies say they are dealing with a market that has been altered in a number of key ways. [ ] ADVERTISEMENT [Advertisement](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) Inside the California K-12 Market: School District Priorities & Pain Points Based heavily on in-depth interviews with district officials, this special report brings revealing insights on key issues affecting the California K-12 market, including new survey data about where California district officials expect to spend the most or least over the next year such as social-emotional learning and parent-communication tools. [Download now](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) [ ] Higher Education [ ] [ ] [alt]   [Faculty Want Money for New Hires. Budget Officers Aren't Sure (Inside Higher Ed)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) The California Community College System could get a $170 million boost in state funding to hire full-time faculty members. The system's budget officers aren't thrilled about it. [alt]   [Though Unnecessary, Richest Colleges Cut Budgets During Pandemic (Vox)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) For the wealthiest schools, austerity measures may not have been worth it. [Ellucian Acquired by Private Equity Giants (Washington Business Journal)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) TPG and Leonard Green were reportedly pursuing a sale of Ellucian in late 2019. [alt]   [Study Abroad Ed-Tech Company Triples Valuation to $3.2 Billion (Forbes)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) Iranian brothers Martin, Masi and Meti Basiri co-founded the company after facing difficulty when applying to attend university in Canada. [alt]   [The 2021 Dean's List: 30 Higher Ed IT Influencers Worth a Follow (EdTech Magazine)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) Here are the savviest higher education IT leaders, bloggers, podcasters and social media personalities you should follow. [alt]   [Five Ways Higher Ed Is Boosting Student Success (EdScoop)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) As the higher education landscape evolves, teachers and administrators are searching for ways to ensure their students are successful in the classroom and beyond. [alt]   [Seven Steps Higher Ed Must Take to Keep Pace With Societal Changes (Inside Higher Ed: Opinion)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) Arthur Levine describes a seven-step process that reveals how far we need to go to ensure that academe keeps pace with the changes taking place in our society. Et Alia [ ] [ ] [Private Equity Firm to Buy McGraw-Hill for $4.5 Billion (Publishers Weekly)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) Eight years after it bought McGraw-Hill Education for $2.4 billion, Apollo Global Management has reached an agreement to sell the company to another private equity firm, Platinum Equity. [alt]   [Ed-Tech Flops Provide Lessons for Future Success (Financial Times)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) Educational technology can improve children's prospects - but only if we get it right. [alt]   [New Beginnings: Ed Tech Enters a Renaissance (MarketScale)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) The 2020 ASU+GSV was one of the first major ed-tech events to be postponed or canceled because of the COVID pandemic. Now it is the first to return. [alt]   [Tiger Global in Talks to Invest in Classplus at Over $250 Million Valuation (TechCrunch)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) Tiger Global is in talks to lead a $30 million round in Indian ed-tech startup Classplus, according to sources familiar with the matter. [alt]   [Byju's Becomes India's Most Valued Startup After $340 Million in Funding (The Economic Times)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) The funding round values the company at around $16.5 billion post-money. [alt]   [Ringle Raises $18M in Series A Funding (The PIE News)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) Online English learning service that specializes in one-on-one tutoring [Ringle](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) has raised $18 million in Series A funding. [alt]   [Boris Johnson Pledges £430M for Girls Missing Education Amid Aid Row (BBC News)](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) Boris Johnson at G7 announces funding for girls' education after row over international aid cuts. Comings and Goings [ ] Online education training and skills provider [Udacity](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) has made two new hires. It has added York Poon as chief product officer and Aparna Vemuri as chief of staff. York joins Udacity from the AI platform eightfold.ai. Vemuri comes to the company from Degreed. Turning, a provider of learning enagement SaaS platforms, has named [Murad Velani](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) as its new CEO. The announcement was made by Centre Lane Partners, a New York-based investment firm. Softdocs, a provider of enterprise content management products to higher education and K-12 schools, announced that [Adam Park](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) has been named its new CEO. Prior to coming to Softdocs, Park was the chief revenue officer at TargetX, an admissions and enrollment management solution. The mayor of Chicago has named [Jose Torres](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) as interim superintendent of the city's school system, the nation's third-largest district. Mayor Lori Lightfoot's search for a permanent replacement for the position continues. Torres has worked as a regional superintendent in the Chicago system. The Vance, N.C., school district has named [Cindy Bennett](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r)as its new superintendent of schools. She takes over for [Tony Jackson](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r), who left to become the schools chief in the Chatham County, N.C., school system. Heard of executives changing jobs within the education industry? Give us the details by writing to edbiz-transitions@educationweek.org. Jobs [ ] [ ] [Assistant Director](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) Camelot EducationThe Special Education Assistant Program Director will be responsible for Supervision of all program staff including special education teachers, school social workers, BCBAs, assistant teachers, SESI related service providers, and administrative assistants. [Vice President of School Operations](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) ALS Education LLCThe Vice President of School Operations is responsible for upholding the profitability and values of an organization by leading business operations. [Director](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) California School Boards Association The Director leads the development, planning and management of short and long-range activities; manages the effective use of department sources to improve organizational productivity and customer service; provides complex and responsible support to the Chief Information Officer in areas of expertise; and performs related work as required Did someone forward this to you? [Sign up](7VTNekEZN:m:1:3125711346:CB2E03C495FB9FC6AAB2F1E0EBC4D73F:r) to get edBiz Update in your own inbox. Suggestions/Feedback: Contact Sean Cavanagh at scavanagh@epe.org. 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