Hoboken-based education publisher John Wiley & Sons has signed an agreement to acquire the assets of New York City-based Knewton, a provider of affordable courseware and adaptive learning technology, for an undisclosed amount. The transaction is expected to close on or around May 31, subject to customary closing and regulatory conditions.
Knewton has developed an advanced learning system demonstrated to deliver highly-personalized learning experiences that drive superior outcomes, according to Wiley.
Knewton’s Alta courseware platform delivers open educational resource content to more than 300 colleges and universities, with course offerings in math, chemistry and economics. The acquisition of the Alta platform, combined with Wiley’s reach, will accelerate Wiley’s position in the rapidly-growing, affordable courseware market.
“The Knewton team has long been pioneers in digital and data-driven learning and now they are leading the way in the delivery of powerful, affordable courseware,” Brian Napack, president and chief executive officer of Wiley, said in a statement. “The Alta platform’s proven ability to drive outcomes at affordable price points is right on target with what the market is demanding. We are truly thrilled to have the team join the Wiley family.”
Knewton’s products are built on adaptive learning technologies that are optimized to improve learning outcomes through enhanced teaching and learning experiences and the delivery of real-time personalized learning recommendations. The platform’s advanced algorithms deliver custom learning experiences to address the unique needs of each learner through instantaneous feedback, learning pathways, and expert resources.
“Wiley is a company that brings global scale, a legacy of integrity, and a commitment to lifelong learning, research, and innovation, and joining the Wiley family fulfills our vision to put achievement within reach for all,” Brian Kibby, CEO of Knewton, said in a statement. “I’d like to thank our board for their guidance, our founder Jose Ferreira for his incredible vision, and most importantly, the talented and devoted group of Knerds at Knewton who helped us reach this point.”