KKR and Dragoneer Complete Acquisition of Instructure
Instructure Holdings has completed its acquisition by KKR and Dragoneer in an all-cash transaction valued at approximately $4.8 billion ($23.60 per share). Following the transaction, Instructure has been delisted from the NYSE. As a leading global provider of learning management and education-tech solutions, Instructure has impacted about 200 million learners across 100+ countries, partnering with over 1,000 organizations. The company aims to achieve $1B in revenue by 2028. The acquisition is expected to accelerate Instructure's global expansion and product innovation, particularly focusing on enhancing Canvas and the Instructure Learning Ecosystem.
Instructure Holdings ha completato la sua acquisizione da parte di KKR e Dragoneer in una transazione completamente in contante del valore di circa 4,8 miliardi di dollari (23,60 dollari per azione). Dopo la transazione, Instructure 猫 stata esclusa dal NYSE. Come fornitore globale leader di soluzioni per la gestione dell'apprendimento e la tecnologia educativa, Instructure ha impattato circa 200 milioni di studenti in oltre 100 paesi, collaborando con pi霉 di 1.000 organizzazioni. L'azienda punta a raggiungere 1 miliardo di dollari di fatturato entro il 2028. Si prevede che l'acquisizione accelerer脿 l'espansione globale di Instructure e l'innovazione del prodotto, con particolare attenzione al potenziamento di Canvas e dell'Ecosistema di Apprendimento Instructure.
Instructure Holdings ha completado su adquisici贸n por parte de KKR y Dragoneer en una transacci贸n totalmente en efectivo valorada en aproximadamente 4.8 mil millones de d贸lares (23.60 d贸lares por acci贸n). Tras la transacci贸n, Instructure ha sido excluida de la NYSE. Como proveedor global l铆der de soluciones de gesti贸n del aprendizaje y tecnolog铆a educativa, Instructure ha impactado a aproximadamente 200 millones de estudiantes en m谩s de 100 pa铆ses, asoci谩ndose con m谩s de 1,000 organizaciones. La empresa tiene como objetivo alcanzar 1,000 millones de d贸lares en ingresos para 2028. Se espera que la adquisici贸n acelere la expansi贸n global de Instructure y la innovaci贸n de productos, enfoc谩ndose especialmente en mejorar Canvas y el Ecosistema de Aprendizaje de Instructure.
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Instructure Holdings a finalis茅 son acquisition par KKR et Dragoneer dans le cadre d'une transaction enti猫rement en esp猫ces d'une valeur d'environ 4,8 milliards de dollars (23,60 dollars par action). Suite 脿 la transaction, Instructure a 茅t茅 retir茅 de la NYSE. En tant que fournisseur mondial de premier plan de solutions de gestion de l'apprentissage et de technologie 茅ducative, Instructure a eu un impact sur environ 200 millions d'apprenants dans plus de 100 pays, s'associant 脿 plus de 1 000 organisations. L'entreprise vise 脿 atteindre 1 milliard de dollars de revenus d'ici 2028. L'acquisition devrait acc茅l茅rer l'expansion mondiale d'Instructure et l'innovation produit, en mettant particuli猫rement l'accent sur l'am茅lioration de Canvas et de l'Ecosyst猫me d'Apprentissage Instructure.
Instructure Holdings hat seine 脺bernahme durch KKR und Dragoneer in einer Barzahlungstransaktion mit einem Wert von etwa 4,8 Milliarden Dollar (23,60 Dollar pro Aktie) abgeschlossen. Nach der Transaktion wurde Instructure von der NYSE gestrichen. Als f眉hrender globaler Anbieter von Lernmanagement- und Bildungstechnologiel枚sungen hat Instructure etwa 200 Millionen Lernende in 眉ber 100 L盲ndern erreicht und arbeitet mit mehr als 1.000 Organisationen zusammen. Das Unternehmen strebt an, bis 2028 einen Umsatz von 1 Milliarde Dollar zu erzielen. Von der 脺bernahme wird erwartet, dass sie die globale Expansion von Instructure und die Produktinnovation beschleunigt, insbesondere mit dem Fokus auf die Verbesserung von Canvas und dem Instructure Learning Ecosystem.
- All-cash acquisition at $23.60 per share, valuing company at $4.8B
- Strong market presence with 200M learners across 100+ countries
- Clear revenue target of $1B by 2028
- Strategic backing from major investment firms KKR and Dragoneer
- Large partner network of over 1,000 organizations
- Delisting from NYSE reduces public market liquidity for investors
- Significant debt likely assumed for leveraged buyout
Insights
The
This acquisition positions Instructure strategically in the rapidly evolving edtech market. The backing of KKR and Dragoneer provides competitive advantages through:
- Enhanced financial flexibility for product development and market expansion
- Access to KKR's global network for international growth
- Ability to pursue strategic acquisitions without public market constraints
Investment to support newly private company's plans for product innovation and worldwide growth
Instructure is a leading global provider of learning management, education-tech effectiveness and credentialing solutions. The Instructure ecosystem of products enhances the lives and outcomes of students, professional learners and educators. The company has impacted approximately 200 million learners across more than 100 countries and boasts a thriving community of over 1,000 partners. Together with its expansive network of educators, learners and partners, the company is committed to broadening its platform and delivering
"We could not be more excited to begin the next phase of our journey as the mission-critical educational operating system that schools, institutions and companies rely on to improve outcomes for lifelong learners," said Steve Daly, CEO of Instructure. "Having KKR's support will help us double down on core markets, scale our global reach at a faster pace and unlock new opportunities as we continue to innovate and enhance Canvas and the Instructure Learning Ecosystem. Together, we expect to build on our position as the education ecosystem that powers learning for a lifetime and turns education into opportunities for all learners globally."
"Instructure has built a strong reputation as a true leader and partner in the learning community," said Webster Chua, partner at KKR. "We look forward to working closely with Steve and the team to leverage KKR's global platform to continue growing and scaling the Instructure ecosystem."
"Instructure reminds us of those generational vertical software companies with all the key ingredients: strong customer love, mission criticality, and a commitment to product superiority," said Christian Jensen, Partner at Dragoneer Investment Group. "Together with KKR, we are fully supportive of Instructure's commitment to having a profound and transformative impact on the global education market."
J.P. Morgan Securities LLC acted as the lead financial advisor, Macquarie Capital also acted as a financial advisor to Instructure and Kirkland & Ellis LLP is serving as the legal advisor to Instructure.听 Morgan Stanley & Co. LLC, Moelis & Company LLC and UBS Investment Bank acted as financial advisors and Simpson Thacher & Bartlett LLP acted as legal advisor to KKR.
Instructure powers the delivery of education globally and provides learners with the rich credentials they need to create opportunities across their lifetimes. Today, the Instructure ecosystem of products enables educators and institutions to elevate student success, amplify the power of teaching, and inspire everyone to learn together. With our global network of learners, educators, partners and customers, we continue to deliver on our vision to be the platform that powers learning for a lifetime and turns that learning into opportunities. We encourage you to discover more at 听
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at .
Dragoneer Investment Group is a growth-oriented investment firm with over
This press release contains forward-looking statements. All statements other than statements听of historical fact, including statements about the potential benefits of the completed听acquisition of Instructure Holdings, Inc. (the "Company"), are forward-looking statements.听Forward-looking statements give the Company's current expectations, estimates and听projections about the potential benefits of the transaction, its business and industry,听management's beliefs and certain assumptions made by the Company regarding its financial听condition, results of operations, plans, objectives, future performance and business, all of听which are subject to change. You can identify forward-looking statements by the fact that they听do not relate strictly to historical or current facts. These statements may include words such as听"anticipate," "estimate," "expect," "project," "plan," "intend," "believe," "may," "will,"听"should," "can have," "likely" and other words and terms of similar meaning. These forward-听looking statements are based on management's beliefs, as well as assumptions made by, and听information currently available to the Company.
Because such statements are based on expectations as to future financial and operating results听and are not statements of fact, actual results may differ materially from those projected and听are subject to a number of known and unknown risks and uncertainties, including: (i) the听Company's ability to implement its business strategy following completion of the acquisition;听(ii) ongoing litigation and potential further litigation relating to the acquisition, including the听effects of any outcomes related thereto; (iii) risks that disruptions from the acquisition will听harm the Company's business, including current plans and operations; (iv) the effect of the听announcement of the completion of the acquisition on the Company's business relationships,听operating results and business generally; (v) the Company's ability to retain, hire and integrate听skilled personnel including the Company's senior management team and maintain relationships听with key business partners and customers, and others with whom it does business, in light of听the acquisition; (vi) risks related to diverting management's attention from the Company's听ongoing business operations; (vii) unexpected costs, charges or expenses resulting from the听acquisition; (viii) the impact of adverse general and industry-specific economic and market听conditions; (ix) the impact of inflation, rising interest rates, and global conflicts; and (x) risks听that the benefits of the acquisition are not realized when and as expected. The Company听cautions you that the important factors referenced above may not contain all of the factors that听are important to you. In addition, the Company cannot assure you that the Company will realize听the results or developments expected or anticipated or, even if substantially realized, that they听will result in the consequences or affect the Company or the Company's operations in the way听the Company expects. The forward-looking statements included in this press release are made听only as of the date hereof. The Company undertakes no obligation to update or revise any听forward-looking statements, whether as a result of new information, future events or听otherwise, except as otherwise required by law.
Instructure:
JP Schuerman
Corporate Communications
(801) 658-7525
[email protected]
KKR:
Julia Kosygina or Lauren McCranie
(212) 750-8300
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