Ascend Learning, LLC ("Ascend"), a leading provider of educational content, software and analytics solutions, today announced that private equity funds managed by Blackstone (NYSE: BX) ("Blackstone") and Canada Pension Plan Investment Board ("CPPIB") have signed a definitive agreement to acquire Ascend from private equity funds advised by Providence Equity Partners and Ontario Teachers' Pension Plan. This transaction is Blackstone's second investment as part of its core private equity strategy, which is specifically designed to hold private equity investments in exceptionally high-quality companies for longer periods of time than traditional private equity funds. CPPIB is a large global institutional investor holding long-term ownership stakes in certain private companies with resilient business models and high-growth potential.
Ascend Learning provides technology-based educational content and software tools for students, educational institutions and employers. The company's products span the full learning continuum and include admissions testing, educational content, test preparation, professional certifications and continuing education. Ascend has a particular focus on high-growth healthcare and other licensure-driven occupations... READ MORE