Promethean in £6.5m US swoop
EDUCATION technology company Promethean has struck a £6.5m deal for US software firm SynapticMash.
The three-year-old Seattle-based start-up has developed a cloud-based assessment platform that is being used by US schools on a subscription basis.
Promethean said it has transformed the way schools collect and manage classroom data which enables teachers to track pupil performance more effectively.
Chief executive Jean-Yves Charlier said: “SynapticMash has developed compelling software, which is wholly complementary to Promethean’s ActivClassroom education offering and significantly strengthens our formative assessment capabilities.
“By integrating SynapticMash’s innovative software with our learner response systems we will create a powerful new proposition for the education market, in what we believe will be the most important way of measuring student achievement, helping to improve performance in the future.”
Around £650,000 of the consideration will be deferred for 18 months and the company said a further payment of £1.9m may be payable within the same time frame depending on performance and the retention of staff.
The fast-growing Blackburn-based firm makes interactive whiteboards for classrooms as well as the software and hand-held devices needed to operate them. It employs over 870 people in 15 locations including the US, France, Germany, Hong Kong, Bahrain, Australia and China.
