ConnectEDU Sells Subsidiary to VC Firm

LET THE SELLING BEGIN: Here's a bittersweet ending for ConnectEDU, which filed for bankruptcy in April 2014. North Atlantic Capital, a Portland, ME-based VC firm that invested in the company in 2012, has agreed to acquire Academic Management Systems (AMS), Inc. (a subsidiary of ConnectEDU) and its CoursEval product, an online tool that for course and instructor evaluations. AMS was founded in 1996 and acquired by ConnectEDU in 2010. The six employees on the CoursEval team will be joining North Atlantic Capital, according to Brian Hopewell, VP of Sales at AMS.

Update: Hopewell confirmed to EdSurge that the sale has been approved by the Federal Trade Commission.

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