Emeritus, a part of Eruditus Learning Solutions, has announced a definitive agreement to acquire iD Tech, a provider of youth STEM education, for $200 million. The acquisition, which is being made through Emeritus’ parent company Eruditus, marks Emeritus’ expansion into K12 STEM education.
Upon the closing of the transaction, iD Tech will operate independently, maintaining its all-star team of instructors and employees. Emeritus and iD Tech’s distinct, yet complementary, offerings will be scaled to support a global audience with improved learning experiences, the company said.
“Emeritus is in the business of teaching the skills of the future like AR/VR, artificial intelligence, cybersecurity, software engineering, design thinking and leadership to professionals,” said Ashwin Damera, co-founder and CEO, pointing to the company’s more than 200 short courses, online degree programs, boot camps and CXO programs offered in collaboration with more than 50 of the world’s universities. “We believe that proficiency and mastery of these skills should begin in K12, and that iD Tech will be instrumental as we jointly pursue our goal of closing STEM skills gaps globally. Their long-term learning system is a perfect complement to what we offer adult learners and will allow us to create a formidable life-long learning ecosystem. Moreover, as a female founded family company, with strong DEI initiatives and a mission-driven culture, the iD Tech team is inspiring and we’re excited to be working together.”
Pete Ingram-Cauchi, CEO of iD Tech, echoed these sentiments, noting that “more and more kids are experiencing STEM touchpoints in their daily lives, whether it’s coding in their favorite video games or 3D printing mask extenders. The pandemic accelerated interest in STEM fields, and we have been ecstatic to see more interested learners exploring and mastering this space. Both iD Tech and Emeritus share the belief that such offerings will only continue to grow in interest, and we are confident that we can open access for people everywhere to our courses and instructors.”
Damera explained that Emeritus’ global reach — its university partnerships and corporate clients span North and South America, Europe, the Middle East, Asia and Southeast Asia, and 3x growth in emerging markets — combined with the fact that iD Tech has students from 135 countries and all 50 states in the US, makes for an unprecedented life-long learning proposition for students and professionals worldwide.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.