Ascend Learning, a leading provider of educational content, software and analytics solutions, announced on Friday that private equity funds managed by Blackstone and Canada Pension Plan Investment Board 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.
“We are excited to work with Blackstone and CPPIB and know their partnership will be a tremendous asset for the next phase of our company’s growth,” said Greg Sebasky, CEO of Ascend Learning
The transaction is expected to close following customary closing conditions and regulatory approvals.
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