Ropes & Gray represented Evergreen Coast Capital Corp., a unit of private equity firm Elliott Investment Management LP, on its acquisition of a majority stake in education technology provider DreamBox Learning.
Gibson, Dunn & Crutcher advised DreamBox’s board of directors, while Williams & Connolly advised the company’s management, on the transaction. No financial details were disclosed.
Texas Pacific Group’s The Rise Fund will retain a significant minority stake and continue to be represented on the DreamBox board, according to a statement.
Seattle-based DreamBox, which provides learning software to K-12 schools, said its mission is “to radically transform the way the world learns.” The 16-year-old company said around six million students and 400,000 educators in the U.S. and abroad use its online learning software for math and reading.
The company said it’s on track for record revenues of over $100 million in 2021, with growth up nearly 40%.
To contact the correspondent on this story: Rick Mitchell in Paris at rmitchell@correspondent.bloomberglaw.com
To contact the editor on this story: Chris Opfer in New York at copfer@bloomberglaw.com; John Hughes in Washington at jhughes@bloombergindustry.com
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