BY PROVIDENCE: Tes Global, one of the most established collection of information and community resources for teachers and schools, will be changing hands. Providence Equity Partners has agreed to acquire the London, U.K.-based education company from another private equity firm, TPG Capital.
The deal, announced in December 2018, marks the latest in a string of ownership swaps for Tes Global. Before TPG Capital, the company’s previous owners have included Charterhouse, Exponent and News Corporation.
The deal is expected to close on Jan. 31, 2019. One outlet estimates the sales price to be in the range of £250 million to 300 million. That would be less than the £400 million that TPG paid to acquire Tes in 2013—but there’s a caveat: Not included in the sale is the Times Higher Education business, which publishes an annual list that ranks universities across the world. (TPG aims to sell this asset this year.)
Founded in 1910 originally as a newspaper publication for UK school teachers, Tes has grown a digital footprint that today claims more than 11.6 million educators. The company’s website offers news, forums, a jobs board and a marketplace where teachers can create, share and sell lesson materials. In recent years, Tes has acquired a handful of education technology startups and services, including Blendspace, Edukey, Hibernia College UK and Unijobs.
