Houghton Mifflin Harcourt Makes Second Acquisition in One Week
Houghton Mifflin Harcourt, the publicly traded, Boston-based education content provider, appears to be on an acquisition streak.
Less than a week after announcing that it had acquired Channel One, Houghton Mifflin Harcourt released news on Monday that it has snapped up Curiosityville, a Cockeysville, Md.-based business that creates an online personalized learning environment to help 3- to 8-year-olds "learn through playful exploration and discovery." Channel One is a New York City-based digital-content provider known for its student-targeted news broadcasts.
Curiosityville is marketed to parents and families to "help parents become great first teachers and children great learners" for school and life, according to its website.
In a statement, Houghton Mifflin Harcourt identified the purchase as contributing a "core element" to its early childhood education offering, which it says represents a "significant growth area" for the company.
"[We] believe that the incorporation of Curiosityville into our own robust offering for young learners will enable us to deliver a unique, engaging, research-based solution to parents and educators alike," said Linda Zecher, Houghton Mifflin Harcourt's president and CEO, in the company's press release announcing the acquisition.
Included in the Curiosityville acquisition is the company's proprietary data collection and analytics engine, the Learning Tree, which provides real-time information on individual learners and personalized recommendations for learning, both online and offline.
Terms of the sale were not disclosed.
Houghton Mifflin Harcourt, which is publicly traded under the HMHC ticker symbol, closed at $17.91 Monday, which is up $.37 from its previous close, but down from its closing at $18.46 on Tuesday after the Channel One acquisition. HMH originally went public in November. Before that, Houghton Mifflin Harcourt emerged from bankruptcy in June 2012.