Ingram Content Group Announces the Sale of VitalSource Technologies01-Jun-2021
LA VERGNE, TN (June 1, 2021) – Ingram Content Group (“Ingram”) today announced it has closed a transaction to sell VitalSource Technologies LLC to Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses.
“Under Ingram’s leadership, VitalSource was transformed from a small venture serving a niche market to a global leader in digital content distribution. I have been fortunate to watch the transformation over the years and have great respect for the many dedicated teams who made this possible. We will miss our VitalSource friends tremendously. I can’t wait to see what the future holds for this dynamic and innovative company,” said Ingram Content Group President and CEO Shawn Morin.
Long-standing Ingram executive and VitalSource President Kent Freeman has been a driving factor in their recent successes and will transition along with VitalSource to the Francisco Partners team.
“This acquisition is a great fit for our business, for our team, and for our customers and partners. It ensures that we will be able to expand our efforts to deliver affordable and impactful learning solutions for students and professionals. We are proud of the work we have done to become a leader in the educational technology industry, and we are poised to accelerate those efforts with this investment from Francisco Partners. I couldn’t be more excited to lead the team into this next part of VitalSource’s journey,” said VitalSource President Kent Freeman.
Ingram first acquired VitalSource in 2006 with an eye to grow it into a larger digital learning platform that could serve the higher ed market and more. This was part of a larger effort by Ingram to help the book industry leverage technology to transform the way content is accessed and in turn, the way the book industry works.
William Blair & Company acted as exclusive financial advisor to Ingram in connection with the sale.
VitalSource is the leading education technology solutions provider committed to helping partners create, deliver, and distribute affordable, accessible, and impactful learning experiences worldwide. As a recognized innovator in the digital course materials market, VitalSource is best known for partnering with more than 1,000 publishers and resellers to deliver extraordinary learning experiences to millions of active users globally– and today we’re also powering new, cutting-edge technologies designed to optimize teaching and learning for maximum results. Learn more at https://get.vitalsource.com and follow us on Twitter, LinkedIn, and Instagram.
About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. With more than $25 billion in assets under management, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential.
For more information on Francisco Partners, please visit www.franciscopartners.com.
About Ingram Content Group
The world is reading, and Ingram Content Group (“Ingram”) connects people with content in all forms. Providing comprehensive services for publishers, retailers, libraries and educators, Ingram makes these services seamless and accessible through technology, innovation and creativity. With an expansive global network of offices and facilities, Ingram’s services include digital and physical book distribution, print-on-demand, and digital learning. Ingram Content Group is a part of Ingram Industries Inc. and includes Ingram Book Group LLC, Ingram Publisher Services LLC, Lightning Source LLC, Ingram Library Services LLC, and Tennessee Book Company LLC. For more information, visit www.ingramcontent.com.
Media Contact: Zach Hunt 615-310-3110