Plato Learning Changes Name to Reflect Growing Product Line
Plato, a Bloomington-based company that provides education software, announced Tuesday that it has changed its name to “Edmentum” to reflect its broader online-learning product offerings.
The name change is effective immediately.
“The explosion of learning technologies, both in and out of the classroom, combined with our success in expanding our learning technology solutions, necessitated a new identity,” CEO Vin Riera said in a statement. “The focus today is no longer just meeting the needs of learners and supporting curricula, but also harnessing the capabilities of exciting new technologies and connecting with the learners who are eager to use them. Edmentum enables educators to support every kind of learner need—from remediation and acceleration to diagnostic assessment and special needs—from pre-kindergarten through adult learners.”
Edmentum’s offerings include Plato courseware for secondary online courses; Study Island, which provides online instruction, practice, assessment, and reporting to support the mastery of core education standards; and EducationCity, an online instruction resource for test preparation and standards mastery.
Riera told the Star Tribune that more than 1 million students use its products daily and more than 65,000 teachers and administrators from 8,000 school districts and community colleges log in to its programs each day. Riera reportedly declined to discuss the future or Edmentum’s financial performance, but the combined sales of its two big predecessor companies was $150 million in 2010, according to the Minneapolis newspaper.
In May 2010, Plato Learning—a public company at that time—was acquired for $144 million by Thoma Bravo, LLC, a private equity firm with offices in San Francisco and Chicago. Since then, it has made several key acquisitions that have expanded its offerings.
Less than a month after Plato lost a bidding war to acquire Renaissance Learning, Inc., a Wisconsin Rapids, Wisconsin-based educational software company, it said in November 2011 that it had purchased Church, Virginia-based education software company Educational Options, Inc., for an undisclosed sum. EdOptions provides schools with online teaching platforms and courses that focus on students who are struggling.
And earlier this year, Plato acquired Dallas-based education software provider Archipelago Learning. Archipelago said in March, when the acquisition announcement was made, that the deal was valued at about $291 million. The company provides subscription-based education software for both students and educators in the United States, Canada, and the United Kingdom.