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PowerSchool (NYSE: PWSC) has launched its education software platform in Arabic, targeting schools in the Middle East and Arabic-speaking regions globally. Newly localized features include Arabic translations, right-to-left interface display, and Hijri calendar integration. With these updates, educators can more effectively manage administrative tasks, promote personalized learning, and improve communication with Arabic-speaking parents through solutions like Schoology Learning, Enrollment Express, and Ecollect Forms. PowerBuddy, the AI-powered assistant, is also set to support multiple languages soon. This launch aligns with the UAE's focus on digital transformation in education and aims to enhance collaboration, student achievement, and accessibility.
PowerSchool Holdings (NYSE: PWSC), a leading provider of cloud-based software for K-12 education, has agreed to be acquired by Bain Capital for $5.6 billion.
Stockholders will receive $22.80 per share in cash, a 37% premium over PowerSchool's pre-announcement share price of $16.64.
The acquisition will see PowerSchool becoming a privately held company, with no interruption in its business operations and customer service. The deal is expected to close in the second half of 2024, pending regulatory approvals.
Bain Capital aims to leverage PowerSchool's innovative solutions, including its AI platform, PowerBuddy, to drive growth and global reach. Existing investors Vista Equity Partners and Onex Partners will retain minority stakes.
PowerSchool’s tax receivable agreement was amended to cancel payments worth approximately $450 million.
PowerSchool Holdings, a cloud-based software provider for K-12 education, announced its executive team's participation in three major investor conferences in Q2 2024.
The events include the Baird 2024 Global Consumer, Technology & Services Conference in New York on June 4, featuring President & CFO Eric Shander, and the Bank of America Global Technology Conference in San Francisco on the same day, with CEO Hardeep Gulati presenting.
Additionally, Shander will present at the William Blair 44th Annual Growth Stock Conference in Chicago on June 5.
Details and webcasts are available on PowerSchool's Investor Relations website.
PowerSchool announced its first quarter financial results, revealing a 16% increase in total revenue to $185.0 million. The company reported a GAAP net loss of $22.8 million, representing 12% of total revenue, and an Adjusted EBITDA increase of 24% year-over-year to $61.3 million. ARR saw an 18% growth over the prior year to $720.3 million as of March 31, 2024. PowerSchool continued to see strong market demand for its K-12 education software, driving double-digit ARR and revenue growth. The company's focus on operating leverage led to a 2-percentage point improvement in its adjusted EBITDA margin. Key business highlights included customer wins, AI solutions launch, AI readiness initiatives, international expansion, and leadership additions.
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