PebblePad buys myday to expand global education reach

PebblePad has acquired student engagement portal myday in the education software provider's first acquisition since receiving backing from private equity firm NorthEdge.

The transaction brings myday under PebblePad's ownership as the company looks to expand its footprint across higher and further education markets internationally. NorthEdge said it supported the acquisition as part of its investment in PebblePad.

Product scope

PebblePad sells an ePortfolio, workbook and assessment platform used by higher education institutions. The company said it works with more than 130 institutions worldwide.

myday supplies a student engagement portal. Institutions use the product as a front-end environment for student access to services and information.

The buyer said the combined group will serve more than 200 institutions globally, including universities and colleges across the UK, US, Canada, Europe, Australia and New Zealand.

Integration plans

PebblePad described the deal as a way to combine learning, assessment and engagement products into a single integrated experience for institutions.

The company positioned the combination around student engagement and retention. It linked this to student experience, outcomes and employability across higher and further education.

It also framed the acquisition as a move that strengthens its market position in education technology. The company pointed to further education and the US as areas of focus. It cited rising demand for digital transformation and personalised learning in the US market.

"We are delighted to welcome myday into the PebblePad community. By integrating myday's engagement capabilities with our learning and assessment expertise, our combined platform can deliver a truly holistic experience for students - in turn supporting our clients to successfully achieve their goals.

"NorthEdge's investment and ongoing support has enabled us to unlock this opportunity, which is a pivotal moment for both PebblePad and the sector more widely," said Justin Reilly, Chief Executive Officer, PebblePad.

Investor angle

NorthEdge said the acquisition fits its approach of using mergers and acquisitions activity across its portfolio. The firm described the transaction as the ninth bolt-on acquisition completed across the NorthEdge portfolio over the last twelve months.

"We are delighted to have supported PebblePad to complete its first acquisition - delivering on our collective mission of accelerating growth through providing innovative, best-in-class solutions for higher and further education institutions, and students, around the globe. We look forward to continuing this momentum as we support the team to build an international business of scale," said Dan Matkin.

Funding and advisers

The transaction used funding from NorthEdge Fund III and HSBC, according to NorthEdge.

Squire Patton Boggs advised on legal matters. Cortus provided financial due diligence. Claritas worked on tax due diligence. GCS provided commercial due diligence. Crosslake handled technology due diligence. Fellwood advised on debt.

Market backdrop

The deal lands amid continuing investment in education technology as institutions review digital learning tools, assessment systems and student-facing portals. Vendors have also pursued product consolidation, as institutions seek fewer platforms and more integrated workflows across teaching, learning and student services.

PebblePad and NorthEdge said they expect further momentum from the enlarged platform as it targets growth in further education and in the US.