Scottish education technology company Sumdog has been sold to Swedish rival eEducation Albert.
The company was founded in Edinburgh during 1994 and has has grown with the market for educational hardware and software, building a strong presence in the US and Europe.
Sumdog’s digital platform is used by about 15% of all UK schools and around 10% in the US. Used by children between the ages of five and 14 its interactive games help with mathematics, spelling and grammar, and can be adapted to the British or North American curriculum.
Albert already has a similar offering in the business-to-consumer category, with the deal strengthening its business-to-business service, as well as helping with UK market expansion. The transaction's financial details were not disclosed.
Andrew Hall, founder and chief executive of Sumdog, said: “Over the past 12 years, we have developed Sumdog to become an important digital aid for teachers, while we have always strived for children to love the product itself.
“It feels very exciting to now take the next step on our journey as part of Albert - we see a perfect match between us both in the offer and the culture, where children’s learning is at the centre.”
Neil McInnes, partner and head of corporate finance for Grant Thornton in Scotland, which advised on the deal, said: “The pandemic has highlighted the importance of technology across all sectors, including education, where every school was forced to pivot to home learning during the lockdowns. We have seen significant interest from investors in this space and a strong pipeline of deals.
“Sumdog is a great success story for an innovative digital business achieving impactful results in the school sector, and underlines Scotland’s reputation in the global technology market.
“The acquisition will not only enhance Albert’s offering from B2C to B2B as well, it will also expand its global reach to have a stronger footprint in both the UK and US.”
Sumdog was also advised by law firm MacRoberts, while Albert was represented by Bristow’s and PwC.
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