Veritas Capital Completes Acquisition of Cambium Learning Group
Cambium Learning Group has successfully completed its previously announced sale to certain affiliates of Veritas Capital, a leading private equity investment firm.
The Company also completed its previously announced acquisition of
“We are excited to welcome the Cambium management team and employees and look forward to supporting their many growth opportunities ahead," said Ramzi Musallam, CEO and Managing Partner of Veritas Capital. “The education technology space is a key focus area for Veritas, and we believe our partnership with Cambium will accelerate the company’s mission of improving outcomes for districts, educators, students and parents.”
John Campbell, Chief Executive Officer of the Company commented, “We are thrilled to partner with Veritas Capital as we embark on the next chapter of our long-term growth. I am proud of the transformation we have accomplished at Cambium as we continue to improve our product suite in terms of technology, efficacy, and engagement. We look forward to helping even more students with the addition of VKidz.”
“It has been our pleasure to work with John and the world-class team at Cambium,” said David Bainbridge, Managing Director of Veronis Suhler Stevenson (“VSS”), an affiliate of the former majority stockholder of the Company. “Since our investment, we have partnered with management to invest in new technology, execute strategic acquisitions, and implement initiatives to accelerate the Company’s growth, and are proud of the progress the Company has made in transitioning to a digital subscription business. We thank Cambium’s leadership and employees for their tremendous efforts and collaboration over the years and wish them well in their next phase of growth.”
Cambium Learning® Group’s stock will cease trading on the NASDAQ under the ticker symbol ABCD effective today.
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Cambium Learning Group, Inc.
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