WebAssign, an online assessment and homework solution focused on STEM education based at NCSU’s Centennial Campus, has been acquired by Cengage, an education and technology firm based in Boston.
A WebAssign spokesperson said Cengage intends to maintain the Raleigh operation when asked about what the fate of the Centennial Campus office would be. WebAssign employs 180 people.
“Cengage considers our NCSU Centennial Campus location to be a ‘center of excellence in education.” Nancy Enloe, director of marketing for WebAssign, told WRAL TechWire. She also noted that all employees were retained by Cengage.
However, the future of WebAssign senior executives is “to be determined,” she added in an email interview.
Might there be layoffs?
“No layoffs have occurred so far,” Enloe replied. “The Cengage and WebAssign leadership teams are evaluating “
The companies were long-time partners in education, Enloe added. WebAssign was privately held.
The sale comes some three years after the death of founder and longtime CEO Dr. John Risley. He died after a brief battle with cancer. Risley also had been a physics professor at NC State University.
“The company is employee-owned. Dr Risley passed away in 2013, leaving the majority shares to his family,” Enloe explained. “The timing of the acquisition aligns with the Risley family’s wishes, Cengage’s strategic plan, and WebAssign’s growth goals.”
Expanding Cengage services
Cengage’s CEO said the addition of WebAssign’s technology and work force enables Cengage to expand its range of services.
In a blog post on Wednesday, an executive wrote that the deal was made “in order to strengthen our digital portfolio for science, technology and math. WebAssign delivers a very highly regarded assessment and homework solution for STEM disciplines (science, technology, engineering and math), and for years Enhanced WebAssign has been the core platform for our online products in math and physics.”
Financial terms of the deal, which closed Sept. 23 and was announced Tuesday, were not disclosed.
“Cengage continues to evolve as an education and technology company offering superior digital course solutions,” said Michael Hansen, CEO, Cengage. “The acquisition of WebAssign is a logical next step as we aggressively invest in student-focused digital products and platforms. Adding WebAssign to our offerings will give our customers more choices of platforms, including our own MindTap and Learning Objects.
“Cengage and WebAssign share complementary values and place a strong focus on the student experience. And WebAssign’s experienced workforce brings expertise to Cengage’s growing product technology team.”
The sale comes some three years after the death of founder and longtime CEO Dr. John Risley. He died after a brief battle with cancer. Risley also had been a physics professor at NC State University.
WebAssign launched in 1997.
Alex Bloom, a former executive at Appia in Durham, joined WebAssign in 2012 as president and later was promoted to CEO.
“WebAssign is a trusted provider of high-quality content, robust tools and superior personalized services to instructors and students,” Bloom said in the announcement. “We are proud to offer a wide selection of content from many academic publishers and OER sources, a commitment that will continue. Cengage has been a valued partner and the acquisition enables us to strengthen our service to the academic community.”
Expanding in Science, Technology & Math: Cengage Acquires WebAssign
Cengage blog about buying WebAssign posted by
Taylor Massey – Managing Editor
September 28, 2016
Building on a long history as partners and a shared passionate focus on education, Cengage and WebAssign have taken the next step in our journey together.
This week we announced the acquisition of WebAssign in order to strengthen our digital portfolio for science, technology and math. WebAssign delivers a very highly regarded assessment and homework solution for STEM disciplines (science, technology, engineering and math), and for years Enhanced WebAssign has been the core platform for our online products in math and physics.
By combining Cengage’s market-leading content, services and customer support with WebAssign’s expertise in quantitative assessment and technical support, we will provide an even better experience for our customers moving forward. Together we can offer more choices in content and technology; serve more customers better and faster; and ultimately improve teaching and learning.
Source: Cengage
