2023-07-11 09:20:31 ET
- PowerSchool ( NYSE: PWSC ) to acquire SchoolMessenger from its parent company, West Technology Group, for $300 million in cash.
- SchoolMessenger is a leading provider of K-12 communication tools in North America.
- The addition is expected to be funded by PowerSchool ( PWSC ), principally with cash on hand and existing credit facilities.
- The addition of SchoolMessenger to PowerSchool’s Student Information Cloud will improve family engagement and student support.
- SchoolMessenger customers and partners will benefit from increased investment in and development of their existing platform as well as deepening integration with PowerSchool’s solutions.
- PowerSchool ( PWSC ) and SchoolMessenger will continue to run as independent businesses until the deal is completed.
- The deal is expected to close in the third quarter of 2023, subject to regulatory approvals and other customary closing conditions.
For further details see:
PowerSchool to acquire SchoolMessenger for $300M in cash