PowerSchool announced that it has signed a definitive agreement to acquire SchoolMessenger, “a leading provider of K-12 communication tools in North America,” the company said. Once completed, PowerSchool’s acquisition of SchoolMessenger will represent an expansion of its commitment to provide a comprehensive platform to support personalized education and help students realize their full potential in their own way PowerSchool has entered into a purchase agreement to acquire SchoolMessenger from its parent company, West Technology Group, for $300 M in cash, which PowerSchool expects to fund principally with cash on hand and existing credit facilities. The transaction is expected to close in the third quarter of 2023, subject to customary closing conditions and regulatory approval. Until the transaction closes, PowerSchool and SchoolMessenger will continue operating as separate entities, maintaining business as usual. More information will be provided once the transaction has closed.
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