HMH Completes Acquisition of NWEA

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May 01, 2023, 09:00 ET

Edtech leaders to combine best-in-class instruction and assessment capabilities to deliver holistic solutions that empower K–12 teachers and students

BOSTON, May 1, 2023 /PRNewswire/ -- Learning technology company HMH today announced that it has completed its acquisition of assets from research and educational services organization NWEA. The combined organization will harness the collective power of instruction and research-based insights to support educators in their efforts to drive better outcomes for students.

NWEA CEO Chris Minnich will join HMH's executive leadership team as president of a new NWEA division. The division will maintain its current offerings including its flagship assessment MAP Growth and continue to offer platform-agnostic assessment solutions to its thousands of partners globally. In addition, educators will benefit from a connected solution linking NWEA's assessments with HMH's curriculum. This will enable them to better understand how students are growing academically and how to maximize that growth with content specific recommendations that advance student learning.

"We are thrilled to welcome NWEA's talented and innovative team to the HMH community. Together, we are deeply focused on the transformative power of education," said Jack Lynch, CEO of HMH. "We look forward to diving into our collective work in support of students and teachers."

K–12 districts, states and educators currently working with HMH and NWEA will not experience any disruption to the services they currently receive. Customers can learn more at hmhco.com/hmh-and-nwea.

Proceeds from the acquisition will fund the formation of a new private foundation that will be headquartered in Oregon and will serve students and educators across the nation. In the next year, the foundation will determine a name, its full structure and provide details of its mission, including what grant programs will be available.

HMH is a portfolio company of Veritas Capital ("Veritas"), a leading investor at the intersection of technology and government. HMH was acquired by Veritas in April 2022.

Goldman Sachs & Co. LLC acted as exclusive financial advisor to NWEA, and Hogan Lovells US LLP served as the Company's legal advisor. Davis Wright Tremaine LLP also acted as legal advisor to NWEA. Milbank LLP acted as HMH's legal advisor in connection with the transaction.

About HMH

Houghton Mifflin Harcourt (HMH) is a learning technology company committed to delivering connected solutions that engage learners, empower educators and improve student outcomes. As a leading provider of K–12 core curriculum, supplemental and intervention solutions, and professional learning services, HMH partners with educators and school districts to uncover solutions that unlock students' potential and extend teachers' capabilities. HMH serves more than 50 million students and 4 million educators in 150 countries. For more information, visit www.hmhco.com

About NWEA

NWEA^®(formerly known as Northwest Evaluation Association) is a mission-driven organization that supports students and educators in more than 146 countries through research, assessment solutions, policy and advocacy services, professional learning and school improvement services that fight for equity, drive classroom impact and push for systemic change in our educational communities. Visit NWEA.org to learn more about how we're partnering with educators to help all kids learn.

About Veritas Capital

Veritas Capital (Veritas) is a longstanding technology investor with over $40 billion of assets under management and a focus on companies operating at the intersection of technology and government. The firm invests in companies that provide critical products, software, and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. Leveraging technology to make a positive impact across vitally important areas, such as healthcare, education, and national security, is core to the firm. Veritas is a proud steward of national assets, improving the quality of healthcare while reducing cost, advancing our educational system, and protecting our nation and allies. For more information, visit www.veritascapital.com.

Contacts:

Bianca Olson
SVP, Corporate Affairs, HMH
[email protected]
617.351.3841

Veritas
Prosek Partners
[email protected]

SOURCE Houghton Mifflin Harcourt