McGraw-Hill Education Acquires Key Curriculum, Publisher of Sketchpad®, World’s Leading Software for Teaching Mathematics
Acquisition strengthens McGraw-Hill Education's position as a leader in dynamic math education technology and expands company offerings that address Common Core State Standards
NEW YORK, Aug. 2, 2012 /PRNewswire/ -- McGraw-Hill Education, a division of The McGraw-Hill Companies, Inc. (MHP), today announced the acquisition of Key Curriculum, a privately held developer of mathematics learning technology in the K-12 and higher education markets. The terms of the acquisition were not disclosed.
The acquisition of Key Curriculum strengthens McGraw-Hill Education's position as a leader in dynamic mathematics education technology at a time when the national market for digital STEM (Science, Technology, Engineering, Mathematics) education technologies is increasing substantially. The move allows McGraw-Hill Education to integrate its proven, research-based curricula with some of the most advanced and reliable digital programs and tools available today, broadening the company's capability to build interactive, data-focused math programs and expanding its offerings that address the Common Core State Standards. The standards, which serve to align K-12 instruction across the country with the goal of better preparing students for success in college and their careers, have so far been adopted by 46 states.
"With the advent of the Common Core State Standards and an increased national focus on the teaching of math, the acquisition of Key Curriculum allows us to better meet the evolving needs of digitally minded students, instructors and schools," said Lloyd G. "Buzz" Waterhouse, chief executive officer of McGraw-Hill Education. "Key Curriculum brings to McGraw-Hill Education a range of products with the capability to bring math to life for a new generation of learners as well as one of the most trusted and respected brands in math education technology."
"We're very excited to become part of McGraw-Hill Education," said Karen Coe, president and CEO of Key Curriculum. "As a company, our mission has always been to help institutions improve student success, and having the resources of McGraw-Hill Education behind our products will only strengthen our ability to fulfill this mission."
Key Curriculum's renowned solutions – which are developed by mathematics educators – engage students and promote the deeper understanding of course material that is a primary focus of the Common Core State Standards. Sketchpad®, Key Curriculum's signature product, enables students to learn math in a hands-on manner by allowing them to visualize, explore and experience the abstractions of math, from basic numbers to calculus. Several of Key Curriculum's other solutions focus on data analysis: Fathom® deepens students' data analysis skills and understanding of statistics, and TinkerPlots® helps build students' understanding of data by transforming data into clear representations.
"Key Curriculum's dynamic mathematics products are unparalleled in the market and have long been recognized amongst math educators as being the finest math tools available," said Christine Willig, senior vice president of STEM for McGraw-Hill School Education, who will oversee the Key Curriculum team within the company.
McGraw-Hill Education will continue to sell Key Curriculum products as standalone solutions, regardless of the curriculum adopted by the institution. "Customers using McGraw-Hill Education's math programs can expect deeper integration between these products and Key Curriculum solutions in the future," said Willig.
Key Curriculum will contribute to the development of McGraw-Hill Education's math technologies. The Key Curriculum product development team will continue to be based at the company's office in Emeryville, Calif.
The acquisition also presents a potential growth opportunity for McGraw-Hill Education's business outside the U.S. Key Curriculum currently does business in 19 countries, and McGraw-Hill Education expects to build on the company's foundation of international standalone sales.
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