Rosetta Stone acquires Lexia Learning Systems
- Rosetta Stone announced Thursday its acquisition of Lexia Learning Systems for $22.5 million in cash.
- Lexia has over 14,000 schools and 1 million students learning to read with its online software, and the deal gives Rosetta Stone the company's adaptive learning technology while also expanding its education presence.
- Rosetta Stone bought cloud-based language-learning service Livemocha for $8.5 million in cash and has been broadening its focus to provide more products to K-12 schools.
From the article:
...With the addition of Lexia, enterprise sales to schools will account for about 30% of the company's business, [CEO Steve] Swad said in an interview. "The kids market is a strong market, and one that needs our products and embraces technology naturally." The Rosetta Stone brand is strong enough that parents and educators will trust it to deliver adjacent products, he said. With more than $100 million in cash on hand, the company may make additional acquisitions if they will help accelerate its strategy, he said. ...
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