Latest GL Education Group News
Jan 13, 2017
GL Education Group (GLE), the leading provider of formative assessment to UK schools has acquired teaching software provider Boardworks Ltd for an undisclosed fee. Boardworks’s software is used by the majority of schools in the UK and their own formative assessment system, Doddle, has proved popular following changes to assessment and accountability measures recently introduced by the Department for Education. The deal will allow Brentford-based GLE to offer a greater variety of online assessment tools and data analytics to schools and multi-academy trusts. In May 2106, GLE, which started life as the education arm of Granada Television back in 1981, was sold by Bahraini PE business Investcorp to California-based Levine Leichtman Capital Partners for an undisclosed fee, reported to be £210m. This represented a significant return on the £48m Investcorp paid Veronis Suhler Stevenson for the GLE in 2012 and highlights just how much investors are willing to spend on data-driven edtech companies. As discussed in our latest UK Public Sector SITS Market Trends & Forecasts report, the UK school market is going to be challenging for the foreseeable future. A combination of a flat funding settlement (in cash terms) per pupil, a rising number of pupils, increased staff costs and inflation, means that schools are having to think much harder about where they spend their money. However, tools that provide data on how best to improve outcomes for pupils will always be in high demand and the Boardworks deal will help GLE to hold on to its dominant position in this space.