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Dive Brief:
- Instructure, which makes the Canvas learning management system (LMS), announced Wednesday it would be acquired by private equity firm Thoma Bravo.
- The deal will take private the publicly traded company, which is valued at $2 billion in equity.
- Instructure CEO Dan Goldsmith told Education Dive that the company expects the deal will allow it to make a “more accelerated investment” in innovation and acquisitions, particularly for its Canvas business.
Dive Insight:
News of the acquisition follows reports last month that Instructure, which was founded in 2008, was exploring potential alternatives to being a publicly traded company, which could include a sale. At the time, the company said it had received interest from “multiple third parties.”
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