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Onex and Vista Equity Partners to become equal partners in PowerSchool

Onex Corporation (Onex) is to acquire a stake in PowerSchool Group (PowerSchool) from Vista, which will also invest new capital in the business. 

PowerSchool is an education technology platform for K-12 schools. Concurrent with the Onex/Vista transaction, PowerSchool will acquire PeopleAdmin, an industry-leading provider of cloud-based talent management solutions for the education sector, creating K-12 education’s most comprehensive and integrated suite of products. The transactions are expected to close in the second half of 2018 subject to customary conditions and regulatory approvals.
 
PowerSchool provides best-in-class, secure and compliant online education solutions, which include the industry’s leading student information system, the Unified Classroom and school finance, HR and payroll solutions.  Through the acquisition of PeopleAdmin, PowerSchool adds capabilities in talent management for K-12 and HigherEd for recruitment, onboarding and teacher professional development. Through this combination, PowerSchool will provide an end-to-end, unified platform that enables educators to streamline school operations, enhance teaching and learning activities, and more effectively engage the student and parent community at home.
 
“PowerSchool is the clear leader in providing technology solutions that are integral to schools’ and educators’ day-to-day operations,” says Laurence Goldberg, a Managing Director with Onex. “We’re excited to partner with PowerSchool’s top-tier management team and Vista, an experienced and highly successful technology investor.  The K-12 sector continues to adopt technology at an accelerating pace and we look forward to helping enhance the company’s leadership position in this dynamic market.”
 
“Vista is committed to PowerSchool’s long-term growth and expansion in the K-12 education technology sector. In Onex, we found a strong partner with an aligned long-term investment philosophy,” says Robert F Smith, Founder, Chairman and CEO of Vista. “We are confident that, together with PowerSchool’s management team, we can lead the company through its next chapter of continued growth and success.”
 
“Onex and Vista value our vision to improve the K-12 education experience through innovative technology,” says Hardeep Gulati, CEO of PowerSchool. “We are grateful for Vista’s renewed support and look forward to Onex’s contribution as we continue to drive student outcomes by empowering educators and engaging families through a unified platform.”

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