Chicago Growth Partners Announces eInstruction's Acquisition of FSCreations.CHICAGO -- Deal Combines the Leaders in Educational Response Pad Systems and Testing / Assessment Software Chicago Growth Partners is pleased to announce that its portfolio company, eInstruction Corporation, the leading worldwide provider of interactive response systems to K-12, higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. , corporate and military classrooms, has acquired FSCreations, Inc. Chicago Growth Partners led the equity support for the acquisition, along with co-investors The Private Equity Group of Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. Asset Management and PPM America. Financial terms were not disclosed. Based in Cincinnati, Ohio “Cincinnati” redirects here. For other uses, see Cincinnati (disambiguation). Cincinnati is a city in the U.S. state of Ohio and the county seat of Hamilton County. , FSCreations is the nation's leading provider of educational software that assists teachers in test preparation and administration, lesson planning and student performance assessment. With approximately 80% market share in the K-12 market and significant penetration in higher-education, its core product, ExamView, is the industry standard test generator and assessment platform containing questions prepared directly by textbook textbook Informatics A treatise on a particular subject. See Bible. publishers. FSCreations also offers LessonView, a program that draws from textbook content to aid teachers in the generation of lesson plans, and Learning Series, assessment content tied to state standards. FSCreations will become a division of eInstruction and will continue to be based in Cincinnati. Chris Schaber, President and Co-Founder of FSCreations, stated that "the products, culture, and values of the two companies are a natural fit. We believe that our products will be more competitive and more successful as part of a larger organization with a broader product line." Ron Davies Ron Davies or Ronald Davies can refer to
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , further described the strategic benefits of the acquisition noting, "Assessment and high quality content are critical elements of an effective response pad system. As market leaders, ExamView and eInstruction response pads make a very powerful combination." The combination of eInstruction and FSCreations brings together the dominant provider of response pad systems and testing / assessment software, two of the highest demand products in education. The transaction will allow the combined entity to leverage seamlessly integrated products, the growing number of institutions that are standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. on eInstruction and/or FSCreations products, as well as eInstruction's national dealer network. The integrated product will facilitate real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. monitoring, assessment and scoring of performance through the utilization of electronic response pads. Rob Healy, a CGP CGP CommuniGate Pro (messaging e-mail server) CGP Certified Group Psychotherapist CGP Controlled Goods Program (Canadian) CGP Certified Geriatric Pharmacist (pharmacist certification) Partner and member of the Board of Directors of eInstruction, remarked, "CGP's initial investment thesis for eInstruction was to support a high-growth company providing products that enhance classroom learning. FSCreations is a highly strategic acquisition as it accelerates growth and further differentiates our Classroom Performance System, adding robust test generation capabilities." Christopher Schaber and Robert Fisk
Robert Fisk (born July 12 1946 in Maidstone, Kent) is a British journalist and is currently a Middle East correspondent for the British newspaper The Independent. , FSCreations' founders, contributed equity to the transaction and will become shareholders of eInstruction. CapitalSource served as lead arranger Lead arranger The senior tier of arranger for a credit facility to support the acquisition. The CGP deal team included Rob Healy, Jeff Farrero and Mark Anderegg. About Chicago Growth Partners CGP is a Chicago-based private equity investment firm committed both to its investments and its investors in the lower middle market. The firm targets three primary sectors: business and consumer services Consumer Services refers to the formulation, deformulation, technical consulting and testing of most consumer products, such as food, herbs, beverages, vitamins, pharmaceuticals, cosmetics, hair products, household cleaners, [paints, plastics, metals, waxes, coatings, minerals, , healthcare and industrial growth. CGP's Partners have specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. in these industry sectors for more than 20 years and their combined experience in each of these areas totals 100-plus years. CGP distinguishes itself through its experienced team - including in-house marketing, information technology and operations expertise; its approach to the development and execution of strategies designed to build success; its focus on growth as the primary driver of returns and its commitment to partnering with portfolio companies that demonstrate strong management capability and opportunity. CGP moves beyond the delivery of growth capital by lending significant industry experience, knowledge and leadership to each business situation. CGP currently manages $1.2 billion of committed capital while investing Chicago Growth Partners VIII, a fund raised in Spring 2006. For more information, please visit www.cgp.com. About eInstruction Corporation eInstruction, based in Denton, Texas Denton is a city in the United States and the county seat of Denton County, Texas. According to the 2000 U.S. Census, the city population was 80,537, making it the eleventh largest city in the Dallas/Fort Worth Metroplex. , is the leading worldwide provider of interactive response systems to Kindergarten-12th grade ("K-12"), higher-education (i.e. colleges and universities), corporate and military classrooms with an estimated 40% market share. The Company's products offer a compelling value proposition as they facilitate real-time monitoring, assessment and scoring of performance, increased instructor productivity and enhanced learning environments for students through increased interaction and participation. This compelling value proposition is driving the rapid adoption of response pad systems. eInstruction generates the majority of its revenue from its Classroom Performance System ("CPS (1) (Characters Per Second) The measurement of the speed of a serial printer or the speed of a data transfer between hardware devices or over a communications channel. CPS is equivalent to bytes per second. "), an instructional, assessment reporting system composed of 24 or 32 response pads, a receiver, and sophisticated software that integrates with the instructor's PC. For more information about eInstruction, please visit the company's website at www.einstruction.com. About FSCreations, Inc. Based in Cincinnati, Ohio, FSCreations is the nation's leading provider of educational software that assists teachers in test preparation and administration, lesson planning and student performance assessment. Its core product, ExamView, is a test generator and assessment platform containing questions prepared directly by textbook publishers. Approximately 80% of all K-12 textbook publishers license ExamView for distribution with their textbooks. Its secondary products include LessonView, a program that draws from textbook content to aid teachers in the generation of lesson plans, and LearningSeries, assessment content tied to state standards. For more information about FSCreations, please visit the company's website at www.fscreations.com. |
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