KKR and Dragoneer Complete Acquisition of Instructure
Instructure Holdings has been acquired by KKR and Dragoneer in an all-cash transaction valued at approximately $4.8 billion ($23.60 per share). Following the acquisition, Instructure has been delisted from the NYSE. As a leading global provider of learning management and education-tech solutions, Instructure impacts approximately 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 è stata acquisita da KKR e Dragoneer in una transazione interamente in contante valutata circa 4,8 miliardi di dollari (23,60 dollari per azione). Dopo l'acquisizione, Instructure è stata eliminata dalla NYSE. Come fornitore leader globale di soluzioni per la gestione dell'apprendimento e tecnologie educative, Instructure impatta circa 200 milioni di studenti in oltre 100 paesi, collaborando con più di 1.000 organizzazioni. L'azienda punta a raggiungere 1 miliardo di dollari di fatturato entro il 2028. L'acquisizione si prevede che accelererà l'espansione globale di Instructure e l'innovazione dei prodotti, con un focus particolare sul miglioramento di Canvas e dell'Instructure Learning Ecosystem.
Instructure Holdings ha sido adquirida por KKR y Dragoneer en una transacción totalmente en efectivo valorada en aproximadamente 4.8 mil millones de dólares (23.60 dólares por acción). Tras la adquisición, Instructure ha sido deslistada de la NYSE. Como proveedor líder mundial de soluciones de gestión del aprendizaje y tecnología educativa, Instructure impacta a aproximadamente 200 millones de estudiantes en más de 100 países, asociándose con más de 1,000 organizaciones. La empresa tiene como objetivo alcanzar 1 mil millones de dólares en ingresos para 2028. Se espera que la adquisición acelere la expansión global de Instructure y la innovación de productos, centrándose particularmente en mejorar Canvas y el Instructure Learning Ecosystem.
Instructure Holdings는 KKR과 Dragoneer에 의해 현금 전액 거래로 약 48억 달러 (주당 23.60 달러)에 인수되었습니다. 인수 후, Instructure는 NYSE에서 상장 폐지되었습니다. 글로벌 학습 관리 및 교육 기술 솔루션의 선두 제공업체로서 Instructure는 100개국 이상에서 약 2억 명의 학습자에게 영향을 미치며 1,000개 이상의 조직과 파트너십을 구축하고 있습니다. 이 회사는 2028년까지 10억 달러의 수익을 목표로 하고 있습니다. 이번 인수는 Instructure의 글로벌 확장과 제품 혁신을 가속화할 것으로 예상되며, 특히 Canvas와 Instructure Learning Ecosystem을 개선하는 데 중점을 둘 것입니다.
Instructure Holdings a été acquise par KKR et Dragoneer dans une transaction entièrement en espèces d'une valeur d'environ 4,8 milliards de dollars (23,60 dollars par action). À la suite de l'acquisition, Instructure a été retirée de la NYSE. En tant que principal fournisseur mondial de solutions de gestion de l'apprentissage et de technologie éducative, Instructure touche environ 200 millions d'apprenants dans plus de 100 pays, en partenariat avec plus de 1 000 organisations. L'entreprise vise à atteindre 1 milliard de dollars de revenus d'ici 2028. L'acquisition devrait accélérer l'expansion mondiale d'Instructure et l'innovation produit, en se concentrant particulièrement sur l'amélioration de Canvas et de l'Instructure Learning Ecosystem.
Instructure Holdings wurde von KKR und Dragoneer in einer Bartransaktion im Wert von etwa 4,8 Milliarden Dollar (23,60 Dollar pro Aktie) übernommen. Nach der Übernahme wurde Instructure von der NYSE delistet. Als führender globaler Anbieter von Lernmanagement- und Bildungstechnologielösungen erreicht Instructure rund 200 Millionen Lernende in über 100 Ländern und arbeitet mit mehr als 1.000 Organisationen zusammen. Das Unternehmen strebt an, bis 2028 eine Milliarde Dollar Umsatz zu erzielen. Es wird erwartet, dass die Übernahme das globale Wachstum von Instructure und die Produktinnovation beschleunigt, wobei der Schwerpunkt auf der Verbesserung von Canvas und dem Instructure Learning Ecosystem liegt.
- All-cash transaction valued at $4.8 billion, providing immediate value to shareholders
- Strategic backing from major investment firms KKR and Dragoneer to support global expansion
- Strong market presence with 200 million learners across 100+ countries
- Clear revenue target of $1B by 2028
- Large partner network of over 1,000 organizations
- Delisting from NYSE reduces public trading liquidity for investors
- Going private transaction eliminates public market investment opportunity
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."
ADVISORS
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. 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.
ABOUT INSTRUCTURE
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 www.instructure.com.
ABOUT KKR
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 www.kkr.com.
ABOUT DRAGONEER
Dragoneer Investment Group is a growth-oriented investment firm with over
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements. All statements other than statements of historical fact, including statements about the potential benefits of the completed acquisition of Instructure Holdings, Inc. (the "Company"), are forward-looking statements. Forward-looking statements give the Company's current expectations, estimates and projections about the potential benefits of the transaction, its business and industry, management's beliefs and certain assumptions made by the Company regarding its financial condition, results of operations, plans, objectives, future performance and business, all of which are subject to change. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "anticipate," "estimate," "expect," "project," "plan," "intend," "believe," "may," "will," "should," "can have," "likely" and other words and terms of similar meaning. These forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to the Company.
Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected and are subject to a number of known and unknown risks and uncertainties, including: (i) the Company's ability to implement its business strategy following completion of the acquisition; (ii) ongoing litigation and potential further litigation relating to the acquisition, including the effects of any outcomes related thereto; (iii) risks that disruptions from the acquisition will harm the Company's business, including current plans and operations; (iv) the effect of the announcement of the completion of the acquisition on the Company's business relationships, operating results and business generally; (v) the Company's ability to retain, hire and integrate skilled personnel including the Company's senior management team and maintain relationships with key business partners and customers, and others with whom it does business, in light of the acquisition; (vi) risks related to diverting management's attention from the Company's ongoing business operations; (vii) unexpected costs, charges or expenses resulting from the acquisition; (viii) the impact of adverse general and industry-specific economic and market conditions; (ix) the impact of inflation, rising interest rates, and global conflicts; and (x) risks that the benefits of the acquisition are not realized when and as expected. The Company cautions you that the important factors referenced above may not contain all of the factors that are important to you. In addition, the Company cannot assure you that the Company will realize the results or developments expected or anticipated or, even if substantially realized, that they will result in the consequences or affect the Company or the Company's operations in the way the Company expects. The forward-looking statements included in this press release are made only as of the date hereof. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.
CONTACT:
Instructure:
JP Schuerman
Corporate Communications
(801) 658-7525
jp.schuerman@instructure.com
KKR:
Julia Kosygina or Lauren McCranie
(212) 750-8300
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SOURCE Instructure Holdings, Inc.
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