M&A Deal Summary

IXL Learning Acquires TPT

On March 2, 2023, IXL Learning acquired internet software and services company TPT from Spectrum Equity

Acquisition Highlights
  • This is IXL Learning’s 5th transaction in the Internet Software and Services sector.
  • This is IXL Learning’s 8th transaction in the United States.
  • This is IXL Learning’s 2nd transaction in New York.

M&A Deal Summary
Date 2023-03-02
Target TPT
Sector Internet Software and Services
Buyer(s) IXL Learning
Sellers(s) Spectrum Equity
Deal Type Add-on Acquisition

Target

TPT

New York, New York, United States
TPT is an online marketplace where teachers buy and sell original educational materials. TPT provides a marketplace for teachers to exchange instructional materials and access easy-to-use digital tools. TPT was founded in 2006 and is based in New York City.

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Buyer(S) 1

Buyer

IXL Learning

San Mateo, California, United States
Category Company
Founded 1998
Sector Media
DESCRIPTION

IXL Learning, Inc. is a K-12 personalized learning platform company focused on delivering learning experience used by more than 7 million students worldwide. IXL Learning was formed in 1998 and is based in San Mateo, California.

DEAL STATS #
Overall 9 of 11
Sector (Internet Software and Services) 5 of 6
Type (Add-on Acquisition) 9 of 10
State (New York) 2 of 2
Country (United States) 8 of 10
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-08 Emmersion

Lehi, Utah, United States

Emmersion is a technology company with a mission to close the global communication gap and helps organizations be smarter with their global language strategy. It has developed AI-driven, fully automated language assessments that provide accurate and immediate reports in English, Spanish, Portuguese, French, German, Italian, Mandarin, Japanese, Russian, and Tagalog. With over 700 customers around the world, Emmersion's cloud-based, AI technology automates assessment processes and provides accurate results. Emmersion was formed in 2015 and is based in Lehi, Utah.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-01 Dictionary.com

Oakland, California, United States

Dictionary.com is an online source for English definitions, synonyms, word origins, audio pronunciations, example sentences, slang phrases, idioms, word games, legal and medical terms, Word of the Day and more. The Company helps millions of people improve their use of the English language with its free digital services. Dictionary.com was formed in 1995 and is based in Oakland, California.

Buy -

Seller(S) 1

SELLER

Spectrum Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1994
PE ASSETS 8.2B USD
Size Mega
Type Sector Focused
DESCRIPTION

Spectrum Equity Management L.P. is a private equity investor focused on service businesses. Spectrum specifically targets established businesses in the media, communications, IT, information, and business services industries. The Firm looks to commit $25 to $150 million of equity capital per transaction and focuses on opportunities throughout North America and Western Europe. Prospective transaction situations include leveraged buyouts, recapitalizations, acquisition financings, and secondary purchases. Spectrum Equity Investors was formed in 1994 and has offices in Boston, Massachusetts and Menlo Park, California.

DEAL STATS #
Overall 69 of 76
Sector (Internet Software and Services) 14 of 18
Type (Add-on Acquisition) 42 of 45
State (New York) 7 of 10
Country (United States) 61 of 67
Year (2023) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-02-08 Digital Marketing Institute

Dublin, Ireland

Digital Marketing Institute is a digital marketing and selling professional certification body. Through its online platform and growing network of education partners, it offers an industry validated professional certification from Associate to Masters level. The Digital Marketing Institute has experienced rapid growth, with over 18,000 professionals in 115 countries having completed its learning programs to date. Digital Marketing Institute was founded in 2009 and is based in Dublin, Ireland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-04 Ease

San Francisco, California, United States

Ease is an operator of a cloud-based benefits enrollment software platform built for insurance brokers and employers. Ease makes it simple to set up and manage benefits, onboard new hires, stay compliant, and offer employees one destination for all their human resources information. Ease was founded in 2015 and is based in San Francisco, California.

Sell -
Mergr

Product

Company

Legal