KKR-Backed Cengage Is Said to Weigh $500 Million IPO This Year

Cengage Group, which counts Apax Partners and KKR & Co. among its backers, is weighing an initial public offering of the global education technology company that could raise roughly $500 million, according to people familiar with the matter.

The Boston-based company has picked Citigroup Inc. and Morgan Stanley to work on the deal, the people said, asking not to be identified as the information isn’t public. Cengage is expected to debut as soon as in the first half of the year, one of the people said.

Deliberations are ongoing and an IPO could be delayed, the people said. Representatives ...