Edxus Group Planning to Spend up to $77M to Consolidate European E-Learning
London-based Edxus Group, an London-based company is planning to spend €50-60 million ($64-$77M) to acquire companies and create a “European education champion” to compete with the U.S. market, according to TechCrunch and Edxus‘s site. Edxus is headed by a former business exec of Time Warner and top members of media investment firm IBIS Capital, which released a detailed report earlier this year on the edtech industry.
According to the TechCrunch article, Edxus plans to consolidate the fragmented European e-learning market, rivaling similar U.S. edtech giants such as Pearson, Blackboard, Macmillan, Kaplan and McGraw-Hill, which top the list of acquisitive e-learning companies.
From Edxus’ site, Charles McIntyre, the chief executive of IBIS Capital, added: “The European e-Learning industry currently displays both disruptive innovation and rapid growth but it is highly fragmented and lacks a dominant player. These are all characteristics of an attractive pre-consolidation phase industry so we expect our strategy to help the marketplace as a whole meet its enormous potential.”
Sheri Cheng is a former science teacher and tech director at an urban charter school in Boston with a penchant for 7th grade humor. Sheri is the Editor-in-Chief and Director of Operations at EdTech Times, keeping on top of day-to-day news in educational technology and entrepreneurship.