NEW YORK, SAN FRANCISCO, WISCONSIN RAPIDS, Wis. November 9, 2021 – Renaissance® (“Renaissance” or the “Company”), a global leader in pre-K–12 educational technology, today announced its entry into a definitive agreement for private equity funds managed by Blackstone (NYSE:BX; “Blackstone”) to make a significant equity investment in the Company alongside existing investors including Francisco Partners and TPG’s The Rise Fund. Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses, acquired the Company in 2018 and will remain a major shareholder. Blackstone’s investment will be made through its flagship private equity vehicle.
Founded in 1986, Renaissance combines decades of experience in assessments with personalized instruction and analytics solutions delivering teachers and administrators the tools to plan, lessons to teach, and the resources to motivate students to learn. Renaissance is one of the most recognized and trusted brands in K-12 education serving more than 40% of US schools and more than 16 million students worldwide. The Company’s assessment-driven, integrated instructional ecosystem enables schools and districts to benchmark student progress; teach, plan, and respond to students’ needs in real-time with personalized instruction; and offer supplemental student literacy and math learning software solutions.
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