Weld North Holdings buys Imagine Learning
The terms of the agreement were not disclosed. Weld North believes Imagine Learning is poised for substantial growth in a vibrant and growing EdTech market.
"Imagine Learning’s unique game-based solution engages children, makes it fun for them to learn and supports teachers in their pursuit of teaching English language and literacy skills to their students," said Jonathan Grayer, Chairman and CEO of Weld North.
"The company’s headquarters in Provo is situated in the midst of a rapidly expanding pool of excellent talent, and it has a long runway of growth ahead. We look forward to leveraging our expertise to facilitate that growth and positively impact the way children are learning in the classroom."
Imagine Learning will remain in Provo, Utah, and there will be no immediate management changes. Over the past decade, Imagine Learning has grown from a fledgling start-up—led by founder and former CEO Susan Preator—to a flourishing multi-million dollar company, contributing to the thriving technology-friendly hub of Utah County.
Imagine Learning is in the process of expanding its workforce and recently secured an additional 26,000 square feet of office space at its current location in anticipation of continued growth. Joe Swenson, Imagine Learning CEO, said the acquisition is evidence of Imagine Learning’s strong position in the digital education sector.
"We want to recognize the incredible efforts of our founders, all of our coworkers, and our board members, including those from Sorenson Capital. Through their dedication and hard work over the past 10 years, Imagine Learning has become one of the most recognized digital English language and literacy programs in the country for K–6 students," said Mr. Swenson. ■