Global investment firms KKR and Dragoneer Investment Group have completed their acquisition of Instructure Holdings, a provider of education technology including the Canvas learning management platform, in a deal valued at approximately $4.8bn.
The transaction, priced at $23.60 per share, was executed as an all-cash deal. As a result, Instructure has been delisted from the New York Stock Exchange.
Canvas serves over 200 million learners across over 100+countries, supporting education through solutions for learning management, credentialing, and analytics, with a vision to achieve $1bn in revenue by 2028.
“We are thrilled to embark on this next chapter as the critical operating system for lifelong learning,” said Instructure CEO Steve Daly. “With KKR’s backing, we aim to deepen our market focus, expand globally, and continue innovating to enhance our platform.”
JP Morgan Securities served as lead financial advisor for Instructure, with legal counsel from Kirkland & Ellis. KKR was advised by Morgan Stanley, Moelis & Company, UBS Investment Bank, and Simpson Thacher & Bartlett.
