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Rafter buys education technology firm HubEdu.

MANews-(C)2009-2012

28 June 2012 - US education technology company Rafter Inc said it had bought cloud-based education technology specialist HubEdu Inc for an undisclosed amount.

The target company offers textbook adoption, comparison shopping and pricing technology to schools. Rafter said it will integrate HubEdu's services into the Rafter Course Materials Network.

The buyer said that the transaction boosts its strategy of aggregating and integrating innovative technology solutions to offer a single, cloud-based platform that cuts the cost of education for students.

Raftera[euro](tm)s chief executive officer Mehdi Maghsoodnia said that the company is empowering its partner schools to better serve their students and bring down their cost of education by providing technology and analytics to educators, administrators and college stores.

Rafter was established from the rebranding of BookRenter, a textbook rental specialist. The Rafter Course Materials Network is a cloud-based software suite that allows schools to improve the affordability, effectiveness and accessibility of their educational materials. The privately held company is based in San Mateo, California and, according to it, to date it has saved students over USD185m (EUR148m).

HubEdu, locatedin in San Diego, California, offers software solutions that can save students up to 75% on college textbooks while boosting school revenues by optimising store pricing and sourcing.Country: USASector: Computer SoftwareTarget: HubEdu IncBuyer: Rafter Inc Type: Corporate acquisitionStatus: Closed

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Publication:M & A Navigator
Date:Jun 28, 2012
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