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ATGE - Zovio Acquires TutorMe For Online Tutor Matching
Adtalem Global Education Inc.
Quick Take
Zovio (BPI) announced it has acquired TutorMe for cash, stock, bonuses, and RSUs of approximately $6.66 million.
TutorMe operates as an online tutor matching and communications platform.
With the deal, BPI gains a low cost, low-risk asset that it can leverage and continue to grow within its ecosystem.
Target Company
Los Angeles, California-based TutorMe was founded in 2015 to connect students with the most-qualified online tutor for their needs using its AI-powered matching system. The platform allows tutors to use video chat, screen-sharing, virtual whiteboards and more to improve retention rates.