Bristol education firm acquired in £172m deal

A £172m deal has been agreed by a US software giant to buy a Bristol education specialist.

Tribal Group is set to be acquired by American firm Ellucian after a deal which valued the business at £159m was agreed.

Tribal said it considered the terms of the bid to be “fair and reasonable”.

The company said: “Whilst the Tribal directors consider the standalone prospects for Tribal to be strong, there are clear and compelling benefits for the business presented by the acquisition and the Tribal directors have determined that the offer reflects a fair valuation for the business.”

“Joining Ellucian will create an enhanced platform which will leverage the strengths of both businesses across the complementary geographies in which Tribal and Ellucian operate for the benefit of our customers, enabling the provision of a broader set of solutions,” said Tribal Chair Richard Last.

Ellucian is based in Virginia and provides software and services designed for higher education.

In 2021, the business was acquired by funds managed by Blackstone and Vista Equity Partners Management.

It works with more than 2,500 institutions in nearly 50 countries and over 18 million students.

“Tribal is in clear alignment with Ellucian’s strategy, purpose and values, and this is an exciting opportunity to expand our combined reach as we power tertiary education so institutions can empower student success,” said Ellucian chief executive Laura Ipsen.

“We recognize Tribal’s notable transformation journey to cloud and are eager to work with Tribal’s strong leadership and talented team. With this investment, we can accelerate our impact in large and important educational markets around the world.”