Sterling Partners signed an agreement to sell Connections Academy, a Sterling Venture Partners II (“SVP II”) portfolio company, to Pearson. The transaction is subject to a Hart-Scott-Rodino review and is expected to be completed within the next 30 days.
Through its Connections Academy business, the company operates online or ‘virtual’ public schools in 21 states in the US-serving more than 40,000 students in the current school year. These virtual charter schools are accredited and funded by the relevant state and are free to parents and students who choose a virtual school in place of a traditional public institution or other schooling options. Virtual schools serve a diverse population of students including those who may be gifted, struggling, pursuing careers in sports or the arts, in need of scheduling flexibility, or who have chosen home schooling. Since its founding in 2001, Connections Academy has built a complete virtual school system to support personalized learning for each student, including a range of proprietary technologies and tools.