PREPPIN’ AND MERGING: Miami-based PREPWORKS, a developer of online test-prep and K-12 curricula study materials, has been acquired by Asteria Education, a San Antonio-based education company backed by a private-equity investor.
Financial terms of this deal were not disclosed. The San Antonio Business Journal reports that the deal was financed by AAVIN, an Iowa-based private equity firm, and Cadence back, based in Alabama. PREPWORKS’ chief executive and chief technology officers will be joining their new owner, according to the press release.
Asteria plans to merge PREPWORKS with ECS Learning System, a Texas-based test-prep publisher that Asteria acquired in January 2018. The combined company plans to offer a blended-learning test-prep for the K-12 market in the coming year.
