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Increase in LMS Financial Activity
Thoma Bravo looking to sale Instructure at same time as Anthology / Blackboard and PowerSchool news
Phil Hill
May 21, 2024
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According to Reuters on Friday, private equity firm Thoma Bravo might be looking to sell Instructure.
Private equity firm Thoma Bravo is exploring a sale of Instructure (INST.N), a U.S. education software provider with a market value of $3 billion, people familiar with the matter said on Friday.
Thoma Bravo, which holds an 83% stake in the company, has tapped JPMorgan Chase (JPM.N), to gauge the interest of potential buyers that include other buyout firms, the sources said.
The sources cautioned no deal is certain and requested anonymity because the matter is confidential.
Anthology / Blackboard News
The timing is interesting for the LMS market based on two fairly recent news articles. The first came one month ago from Anthology (which purchased Blackboard).
Anthology announced today that the Company raised $250M of financing from its stakeholders to invest in its strategic initiatives and core EdTech solutions. The transaction closed on April 19 and will be used to pursue its strategic focus of leading the industry forward and helping higher education institutions meet their goals in a rapidly changing landscape.
This was a welcome resolution to some near-term debt financing challenges that Anthology had faced, as Fitch downgraded the company’s debt late last year.