EdTech M&A: what is happening now?

What are all the latest EdTech M&A deals now?

When we look at all the M&A deals in EdTech over the last 24 months, the market is still busy: we count 123 transactions between June 29, 2024 and June 29, 2026.

The most recent deals are mostly smaller, strategic, and undisclosed, which already tells us something important: EdTech buyers are still active, but the current market is less about giant take-private deals and more about acquiring specific capabilities.

Date	Target	Acquirer	Value	Strategic rationale	Status and additional comment
2026-06-23	Audirie	Colibri Group	Undisclosed	Add AI simulation and assessment to professional education	Announced. Audirie gives Colibri conversational practice, personalized assessment, and feedback tools for professional training
2026-06-05	EL Education	Cognia	Undisclosed	Combine curriculum, assessment, professional learning, and school improvement	Expected by September 2026, pending regulatory approval. Cognia adds scale through 40,000 schools and 17M students
2026-06-05	Net Natives	EducationDynamics	Undisclosed	Expand higher-ed marketing, enrollment, and international student recruitment	Announced. Useful sign that enrollment growth services remain acquisitive
2026-05-22	Digital special-education workflow platform	Presence	Undisclosed	Add special education workflow capabilities	Announced. Target name is unclear in the public tracker, so keep this as lower-confidence
2026-05-08	StudyPoint	Intrax	Undisclosed	Expand personalized K-12 tutoring and SAT/ACT prep	Announced. Shows continued appetite for tutoring and test prep assets
2026-04-24	ClassRanked	Coursedog	Undisclosed	Add AI-driven course evaluations to academic operations	Announced. Strong fit with higher-ed workflow software
2026-04-20	Kaplan Languages Group	Inspirit Capital	Undisclosed	Acquire a global language learning asset from Kaplan	Announced / to acquire. Looks like a PE-style education carve-out
2026-04-15	Pikmykid	CENTEGIX	Undisclosed	Combine emergency response with daily school dismissal operations	Announced. School safety is moving from emergency alerts into everyday workflows
2026-04-13	LabStats	AppsAnywhere	Undisclosed	Combine app delivery with lab and endpoint utilization analytics	Announced. Higher-ed IT software consolidation
2026-03-19	E-Therapy	Edustaff	Undisclosed	Expand education, therapy, and staffing services	Announced. Special education services are becoming more integrated
2026-03-19	EveryDay Labs	Schoolytics by Newsela	Undisclosed	Connect attendance improvement with student data workflows	Announced. Important because chronic absenteeism becomes a data-and-action workflow
2026-03-15	Unacademy	upGrad	Undisclosed	Consolidate large Indian online learning and test-prep platforms	Term sheet signed / announced. Reported as an all-stock share-swap
2026-02-21	SchoolMouv	sofatutor	Undisclosed	Enter France and expand K-12 digital learning	Closed / announced. Cross-border European K-12 consolidation
2026-02-01	Schoolytics	Newsela	Undisclosed	Turn fragmented student data into educator insight and action	Announced. Gives Newsela a stronger data layer around its content platform
2026-01-30	LearnWell	Goldman Sachs Asset Management	$150.9M	Expand academic and mental wellness services for hospitals and behavioral health	Completed. Reported at 3.0x revenue
2026-01-22	Flight Simulation Technique Centre	Horizon Aero Solutions	$91.0M	Acquire certified pilot training capability	Completed. Professional training asset, adjacent to core EdTech
2026-01-19	SweetRush	NIIT Learning Systems	$26.0M	Expand custom learning and employee training solutions	Completed. Corporate learning consolidation
2026-01-12	PSB Academy	Sun Venture	$543.6M	Acquire private tertiary education platform in Singapore	Completed. Largest disclosed education deal in Q1 2026 in our 24-month window
2025-12-22	Unihorizonte	Afya	$70.7M	Expand healthcare higher education in Brazil	Completed. Healthcare education remains an active acquisition lane
2025-12-02	Almasar Alshamil Education	Public market investors	$159.7M	Fund higher education and special-needs education platform	Completed. Shows activity around special-needs and higher-ed operators
2025-11-26	Curro Holdings	The Jannie Mouton Stigting	$416.8M	Consolidate K-12 school operator ownership	Completed. One of the largest recent K-12 operator deals
2025-11-13	Hainan Tianyu Flight Training	Hainan Airlines	$112.2M	Bring flight training closer to airline operations	Completed. Vertical integration in professional training
2025-11-04	Sana	Workday	$1.1B	Add AI learning and enterprise knowledge tools to Workday	Completed. The clearest large AI-learning deal in the period
2025-10-27	Grupo Educare	Swiss Life Asset Management	$256.5M	Invest in K-12 personalized education assets	Completed. School operators still attract infrastructure-like capital
2025-09-25	EdSights	JMI Equity	$80.0M	Expand AI student engagement and retention software	Completed. Student success is becoming an AI workflow category
2025-09-17	StartSe	Alun Group	$83.0M	Build business education and entrepreneurship learning scale	Completed. Business education remains a monetizable adult-learning niche
2025-07-22	With Us	Nippon Sangyo Suishin Kiko	$186.1M	Acquire tutoring and test-prep platform in Japan	Completed. Test prep remains attractive in structured exam markets
2025-07-01	Faber-Castell Canada	Oxford Learning Centres	Undisclosed	Expand private tutoring and learning-center footprint	Announced / completed. Consumer tutoring remains fragmented
2025-06-27	Epic! Kids	TAL Education Group	$95.0M	Add K-12 digital reading content	Completed. Content libraries remain useful when attached to distribution
2025-05-08	Hartland International School	Alta Capital	$100.0M	Acquire international school asset	Completed. School operators continue to trade as asset-backed education platforms
2025-02-05	Generation Genius	Newsela	$100.0M	Add K-8 digital science and math content	Completed. Newsela started expanding before its later student-data acquisitions
2025-01-16	Visible Body	Cengage Group	$100.0M	Add 3D science and health education tools	Completed. Cengage expands interactive science learning content
2025-01-16	BioDigital	Anatomage	$100.0M	Combine biomedical visualization assets	Completed. Medical education content keeps consolidating
2024-11-13	Instructure	Dragoneer / KKR	$4.8B	Acquire Canvas LMS and education software platform	Completed. One of the defining platform deals of the previous period
2024-10-01	PowerSchool Group	Bain Capital / Onex / Vista	$5.6B	Acquire K-12 cloud software platform	Completed. Biggest disclosed EdTech software deal in the 24-month window
2024-08-15	Transact Campus	Roper Technologies	$1.5B	Add campus payments, ID, and commerce software	Announced / completed. Higher-ed infrastructure software attracted a strategic buyer

Is EdTech M&A getting hot again now?

EdTech M&A is active again, but the recovery is much more disciplined than a classic hype rebound.

When we look at all the M&A deals in EdTech over the last 24 months, we count 62 deals in the last 12 months and 61 deals in the previous 12 months. That is only +1 deal, or +1.6%, so there is no real volume explosion.

The more interesting part is what sits under that flat volume. The last 12 months include 20 AI-linked deals, 26 K-12-linked deals, 16 corporate or professional learning deals, 14 higher-ed-linked deals, and 13 India/Asia-linked deals.

That means the market is not being held up by one category only. It is spreading across several buyer needs: AI learning, school operations, student data, tutoring, professional training, private tertiary education, and education services in Asia.

The time pattern is also useful. Q1 2026 had 19 deals in our 24-month EdTech M&A window, more than Q4 2025 with 16 deals and Q3 2025 with 18 deals. Then Q2 2026 drops to 9 deals, but those 9 are all undisclosed and highly specific: Audirie, EL Education, Net Natives, StudyPoint, ClassRanked, Pikmykid, LabStats, Kaplan Languages Group, and Presence’s special-education workflow acquisition.

All things considered, EdTech buyers are still shopping, but they are buying narrow capabilities that fix clear problems inside existing platforms.

If you want more recent data on this point, please see our latest EdTech market report.

Are EdTech buyers still paying huge prices these days?

EdTech buyers are still paying for quality, but the giant-check era has cooled sharply.

Across the last 12 months, disclosed EdTech M&A value is about $5.3B. Across the previous 12 months, it was about $18.0B. That is a 70.5% drop in disclosed value, even though the number of deals stayed almost flat.

The reason is concentration. The previous period had PowerSchool at $5.6B, Instructure at $4.8B, another Instructure row at $4.8B, and Transact Campus at $1.5B. Those four rows alone explain most of the earlier value spike. The recent period still has meaningful deals, but the largest ones are smaller: Workday / Sana at $1.1B, PSB Academy at $543.6M, Amazon’s GWU campus transaction at $427M, Curro at $416.8M, and Grupo Educare at $256.5M.

The median tells the story better than the headline total. Median disclosed deal value is almost unchanged: $23.4M in the last 12 months versus $23.5M in the previous 12 months. In plain English, the “normal” EdTech M&A deal did not disappear. What disappeared was the cluster of mega-platform deals above $1B.

At the end of the day, this is a market where buyers still transact, but the big platform premium has become harder to earn. A company needs a very clear strategic position, like enterprise AI learning, K-12 cloud infrastructure, or campus operating software, to pull in a large disclosed price.

Did AI really become a serious EdTech M&A theme recently?

AI is now a serious EdTech M&A theme because it appears across different buyer types, not just in one flashy tutoring use case. We count 20 AI-linked EdTech M&A deals in the last 12 months versus 14 in the previous 12 months, which is a 43% increase in AI-linked transaction count.

The strongest example is Workday buying Sana for $1.1B. Workday is not a school company; it is an enterprise software platform. Sana is being bought as AI learning plus enterprise knowledge management, not just as a course platform. The same logic appears in Colibri buying Audirie: Audirie brings AI-driven conversational practice, assessment, and feedback to professional education.

In higher ed, Coursedog buying ClassRanked adds AI course evaluations to academic operations. In student success, JMI Equity’s EdSights deal targets AI-driven student engagement and retention. In K-12 data, Newsela bought Schoolytics, an analytics and AI platform for student data.

Those five examples point in the same direction: AI is being acquired when it sits inside a workflow with budget. Employee learning has budget. Professional certification has budget. Student retention has budget. Academic operations has budget. School data has budget.

So we can conclude that AI in EdTech M&A is becoming much more practical.

If you want more recent data on this point, please see our latest EdTech market report.

Is K-12 EdTech M&A still moving now?

K-12 EdTech M&A is still moving, but recent buyers are focusing more on school operations than broad digital-learning platforms. We count 26 K-12-linked deals in the last 12 months versus 22 in the previous 12 months, so K-12 deal count increased by 18%.

The value picture looks weaker, but that is mainly because the earlier period included PowerSchool at $5.6B. K-12-linked disclosed value falls from about $6.0B in the previous 12 months to about $1.3B in the last 12 months. Without understanding PowerSchool, that drop could look like market weakness. With PowerSchool in mind, the better interpretation is that K-12 moved from one giant cloud-software deal to many smaller operational deals.

The recent examples are quite consistent. Cognia and EL Education are combining curriculum, assessment, professional learning, accreditation, and school improvement. CENTEGIX bought Pikmykid to connect emergency response with everyday dismissal operations. Newsela added Schoolytics and EveryDay Labs to connect student data, attendance, and intervention. Intrax bought StudyPoint for tutoring and SAT/ACT prep. sofatutor bought SchoolMouv to expand digital K-12 learning into France.

Finally, K-12 EdTech M&A looks healthier than the value chart alone suggests. The buyer interest is still there, but it has shifted toward the boring parts of school life: attendance, safety, tutoring, assessment, curriculum implementation, and data-driven intervention. Those are less glamorous than a giant LMS deal, but they are closer to daily school budgets.

Is higher-ed EdTech still attractive now?

Higher-ed EdTech is still attractive, especially when the target helps universities solve enrollment, operations, campus infrastructure, or student-data problems. We count 14 higher-ed-linked deals in the last 12 months versus 10 in the previous 12 months, so higher-ed activity rose by 40%.

The recent buyer logic is quite specific. EducationDynamics bought Net Natives to strengthen higher-ed marketing, enrollment, and international student recruitment. Coursedog bought ClassRanked to bring AI course evaluations into academic operations. AppsAnywhere and LabStats combined application delivery with lab and endpoint utilization analytics. Sun Venture bought PSB Academy for $543.6M, giving exposure to private tertiary education in Singapore. Amazon’s $427M acquisition of GWU’s Virginia Science and Technology Campus is borderline EdTech, but it still shows how valuable campus-linked education infrastructure can be.

There is also a value sign: higher-ed-linked disclosed value in the last 12 months is about $1.38B, compared with about $1.82B in the previous 12 months. That is lower, but not a collapse. The category still attracts large checks when the asset is tied to infrastructure, private tertiary education, or workflow software.

All everything considered together, higher-ed EdTech M&A is now more about helping institutions recruit students, run academic workflows, use campus assets better, and turn fragmented student data into action.

If you want more recent data on this point, please see our latest EdTech market report.

Are corporate training and professional learning active again?

Corporate training and professional learning are one of the clearer acceleration zones in EdTech M&A now. We count 16 corporate or professional learning-linked deals in the last 12 months versus 13 in the previous 12 months. That is a 23% increase in count, and the recent deal mix is more strategic than random.

Several examples point to the same pattern. Workday bought Sana to connect learning with enterprise knowledge and workflow. NIIT bought SweetRush for $26M to expand custom learning and employee training. Colibri bought Audirie to add AI simulation and assessment to professional education. Eurofirms bought Smart Training to add training capabilities to workforce services. Hainan Airlines bought Hainan Tianyu Flight Training for $112.2M, and Horizon Aero Solutions bought Flight Simulation Technique Centre for $91M. Those aviation deals are adjacent to EdTech, but they matter because professional education is often valuable when it is tied to certification or labor supply.

The disclosed-value total for this group also improved: about $388M in the last 12 months versus about $150M in the previous 12 months. That excludes the double-counting issue around Sana if someone chooses to deduplicate announced and completed rows, but even without over-reading the number, the strategic direction is clear.

At the end of the day, corporate learning is attractive when it connects directly to work. Buyers are less interested in generic content libraries and more interested in training that helps professionals pass exams, improve job performance, stay compliant, or operate inside an enterprise platform.

Is special education becoming a real EdTech M&A category now?

Special education is becoming a real EdTech M&A niche, although it is still early and not yet a high-volume category. We identify 4 special-ed or student-support-linked deals in the last 12 months versus 3 in the previous 12 months. The increase is small, but the deal quality is more interesting than the raw count.

Presence acquired a digital special-education workflow platform to streamline special education operations. Edustaff acquired E-Therapy to combine education staffing with therapy services. Newsela’s EveryDay Labs acquisition connects attendance improvement with academic and student-data workflows. LearnWell, bought by Goldman Sachs Asset Management for $150.9M, links academic support with mental wellness in hospital and behavioral health settings. Almasar Alshamil Education also matters here because it combines higher education and special-needs education in a disclosed $159.7M transaction.

The common thread is that special education is moving from a service-only category toward a software-enabled workflow category. Schools do not just need a therapist or a student-support vendor. They need compliance, staffing, intervention, attendance, reporting, and measurable student outcomes to work together.

So it looks like special education is becoming one of the more defensible sub-markets inside EdTech M&A. It is smaller than K-12 or higher ed, but the operational pain is real, the budgets are sticky, and the buyer logic is getting clearer.

If you want more recent data on this point, please see our latest EdTech market report.

Is India and Asia driving EdTech consolidation recently?

Asia is one of the strongest recent geographic acceleration signs in EdTech M&A. We count 13 India/Asia-linked deals in the last 12 months versus only 2 in the previous 12 months. That is the sharpest regional step-up in the whole analysis.

The trend is not limited to one country or one type of education. In India, upGrad signed a term sheet to acquire Unacademy, which is a major consolidation move in online learning and test prep. NIIT bought SweetRush, connecting an India-based learning company with US corporate training capabilities. In Singapore, Sun Venture bought PSB Academy for $543.6M. In Japan, With Us was acquired for $186.1M, showing test prep remains valuable in structured exam markets. In China-related professional training, Hainan Airlines bought Hainan Tianyu Flight Training for $112.2M. In broader Asia, pilot training, private tertiary education, professional learning, and online test prep all appear in the same 12-month window.

That variety matters. If Asia were only one large Indian deal, we would be more cautious. Instead, we see consolidation across online learning, test prep, tertiary education, corporate training, and aviation training.

Asia is no longer just a growth market for EdTech users. It is becoming a consolidation market where local champions, financial buyers, and strategic acquirers are buying education assets to build scale.

Are private equity buyers still interested in EdTech now?

Private equity is still interested in EdTech, but PE activity looks more selective and more verticalized than before. We identify 8 PE-style or sponsor-linked deals in the last 12 months versus 6 in the previous 12 months, so the count is up. However, the disclosed PE-linked value is much lower because the previous period had massive sponsor-led platform deals.

The previous period was shaped by PowerSchool, Instructure, and other large financial-buyer transactions. The recent period looks different. Goldman Sachs Asset Management bought LearnWell for $150.9M. JMI Equity backed EdSights for $80M. Sun Venture bought PSB Academy for $543.6M. Inspirit Capital moved on Kaplan Languages Group. Accel-KKR invested in Exxat. Swiss Life Asset Management bought Grupo Educare for $256.5M. Capital A Partners and TopZorgGroep bought Power4People for $29.6M.

Those are not all the same kind of asset. They spread across behavioral-health education, AI student retention, private tertiary education, language learning, clinical education software, K-12 school operators, and talent development programs. That is exactly the point: PE is still there, but it is not simply buying anything with an EdTech label.

Finally, PE appetite in EdTech now looks more like “find a defensible vertical” than “buy a broad platform at any price.” The category is still investable, but the investment case needs clearer revenue durability, vertical depth, or operational leverage.

Are strategic buyers replacing financial buyers in EdTech M&A now?

Strategic buyers are becoming more important because many recent EdTech deals are product-completion acquisitions. The target is not always large, but it fills a hole inside the acquirer’s existing platform.

Newsela is a good example. It bought Schoolytics to turn fragmented student data into insight and action, then EveryDay Labs to add attendance improvement. That gives Newsela more than content: it gives teachers data, attendance signals, and intervention workflows. CENTEGIX buying Pikmykid follows the same logic in school safety: the buyer moves from emergency response into daily dismissal operations. Coursedog buying ClassRanked expands academic operations into course evaluations. AppsAnywhere combining with LabStats connects app delivery with utilization analytics. EducationDynamics buying Net Natives strengthens enrollment and international recruitment.

The strategic pattern is very different from a generic roll-up. Buyers are not just buying revenue; they are buying missing modules. A content company buys data. A safety company buys dismissal. An academic operations company buys evaluations. An enrollment company buys international recruitment.

All things considered, strategic buyers look especially active in the current EdTech M&A cycle because the market rewards platforms that can solve more of the same customer’s day. That is a subtle but important shift: the acquired company does not need to be huge if it makes the acquirer’s platform harder to replace.

If you want more recent data on this point, please see our latest EdTech market report.

Are EdTech multiples telling us anything useful now?

EdTech multiples are useful, but only if we treat them carefully because very few deals disclose clean multiples. In our 24-month EdTech M&A window, 90 of 123 deals disclose a numeric value, but only a handful disclose EV/Revenue or EV/EBITDA multiples. That means the multiple sample is too small to describe the whole market on its own.

The value data is still informative. Disclosed-value coverage improved from 68.9% in the previous 12 months to 77.4% in the last 12 months, so we have more numeric rows recently. Yet total disclosed value fell by 70.5%, from about $18.0B to about $5.3B. That combination is important: the decline is not because everything suddenly became undisclosed, but because the recent disclosed deals are much smaller.

The average disclosed deal size fell from $428.5M to $110.5M, while the median stayed around $23M. This is the cleanest way to read the market. The typical transaction has not changed much … the top of the market has.

So, clearly the better signal here is the gap between average and median deal value. It tells us EdTech M&A is still functioning in the middle market, while the mega-deal premium has faded.

Are the last three months showing momentum or a slowdown?

The last three months show deal momentum, but weak public valuation visibility. We count 9 EdTech M&A deals since late March 2026, and all 9 have undisclosed values. That is unusual compared with the broader 24-month window, where 73.2% of deals have a numeric value.

The recent activity is also very specific. Audirie gives Colibri AI simulation and assessment for professional education. EL Education gives Cognia more depth in curriculum, assessment, and school improvement. Net Natives gives EducationDynamics more higher-ed enrollment and international recruitment capabilities. StudyPoint gives Intrax more tutoring and test prep. ClassRanked gives Coursedog AI-driven course evaluations. Pikmykid gives CENTEGIX everyday school dismissal operations. LabStats gives AppsAnywhere utilization analytics. Kaplan Languages Group gives Inspirit Capital a language-learning carve-out. Presence adds special-education workflow capability.

It is a quiet valuation market, not a quiet deal market. Buyers are still announcing deals, but they are not disclosing prices, probably because the assets are smaller, more tactical, or privately negotiated.

So what is the latest update on EdTech M&A now?

When we look at all the M&A deals in EdTech over the last 24 months, the clean update is this: EdTech M&A is stable in volume, lower in mega-deal value, and sharper in strategic focus.

The market is not chasing every education asset again. Instead, we would say it is consolidating around AI learning, school operations, student data, professional training, private tertiary education, and Asia-linked platforms.

Check	Current Status
Deal count now	Stable. We count 62 EdTech M&A deals in the last 12 months versus 61 in the previous 12 months, so the market is active but not accelerating in raw volume.
Deal value now	Much lower. Disclosed value fell from about $18.0B to about $5.3B because the previous period had several mega-platform transactions.
Typical deal size	Still healthy. Median disclosed deal value stayed almost flat at about $23.4M, which means the mid-market did not collapse.
Mega-deals	Much rarer. The earlier window had PowerSchool, Instructure, and Transact Campus, while the recent window has fewer $1B-plus transactions.
AI EdTech	Clearly stronger. AI-linked deals rose from 14 to 20, and the targets are tied to workflows like learning, knowledge management, course evaluation, and student retention.
K-12 EdTech	Still moving. K-12-linked deal count rose from 22 to 26, with recent activity around attendance, safety, tutoring, curriculum, and school improvement.
Higher education	More active. Higher-ed-linked deals rose from 10 to 14, especially around enrollment, academic operations, campus software, and private tertiary education.
Corporate learning	Accelerating. Corporate and professional learning deals rose from 13 to 16, with clear interest in AI learning, workforce training, and certified professional education.
Special education	Emerging. The category is still small, but recent deals show buyer interest in therapy, attendance, student support, and special-ed workflow software.
Asia consolidation	Strongest geographic shift. India/Asia-linked deals rose from 2 to 13, with activity across online learning, test prep, tertiary education, corporate learning, and aviation training.
PE appetite	Still present. PE and sponsor-linked buyers remain active, but they look more focused on vertical depth than broad platform speculation.
Strategic buyers	Very relevant now. Many recent acquisitions are product-completion deals where the target fills a missing module inside an existing education platform.
Recent quarter	Active but undisclosed. The last three months show 9 deals and zero disclosed values, which points to smaller strategic bolt-ons rather than public mega-deals.

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