In the latest example of how the ed-tech industry is becoming increasingly consolidated into the hands of a few key publishers, New York-based children’s publishing company Scholastic Corp. has acquired Tom Snyder Productions, a leading developer of interactive educational software, for $9 million from Canadian publisher Torstar Corp.
Included in the purchase, which was announced Dec. 21, is Soup2Nuts, Tom Snyder’s animated television production arm. Annual revenues for Tom Snyder Productions total $15 million.
For more than 20 years, Watertown, Mass.-based Tom Snyder has published award-winning educational software in social studies, science, mathematics, and language arts. The company’s software titles include Mapmaker’s Toolkit, Math Mysteries, Reading for Meaning, and Decisions, Decisions Online.
In announcing the acquisition, Richard Robinson, Scholastic’s chairman and chief executive, said, “Tom Snyder Productions is known for its ability to create software that meets the real need of classroom teachers and helps teachers to tap into student creativity and productivity. [The company’s] ability to create teacher-sensitive software will enhance Scholastic’s development of innovative software that will solve learning needs in classrooms around the world.”
Analysts say the deal further bolsters Scholastic’s multimedia offerings, which already include reading software programs such as Read XL, Read 180, and Scholastic Reading Counts!. Scholastic’s other holdings include Grolier Inc., a leading online and print publisher of reference materials, and market research firm Quality Education Data.
Tom Snyder Productions will become part of Scholastic’s Interactive Educational Software division, while Soup2Nuts will become part of Scholastic Entertainment.