E2020 Bought By Private Equity Firm Weld North

PRIVATE EQUITY PARADE: Private equity funds seems to be steadily marching into education--a sign that some smart folks are willing to bet big that there's money to be made in this field. Weld North Holdings is an investment firm partnership between Jonathan Grayer, former CEO of Kaplan Inc., and buyout king, KKR. On July 12 Weld North said it was buying blended learning company, Education2020, or e2020. Although the partners were mum about the price, street NYT's Dealbook pegged the deal at $50 million. e2020's software is used in 2,500 schools in 43 states and notably in blended learning pioneer, Carpe Diem Schools, in Yuma, Az. This is Weld North's first edudeal--and it reportedly has several hundred million in available funds simmering in the bank.

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