BRIEF: Ascend Learning sold in deal between private equity funds

April 15–Ascend Learning's owners have agreed to sell the education software business with offices and 306 employees in Leawood.

The buyers are private equity funds managed by Blackstone and the Canada Pension Plan Investment Board. Ascend Learning has been owned for a decade by another set of private equity funds advised by Providence Equity Partners and the Ontario Teachers' Pension Plan.

Their announcement did not disclose terms of the sale, though Reuters reported that its sources claimed the deal could be worth more than $2 billion.

Nearly five years ago, Ascend Learning moved into what had been a vacant-since-built Two Hallbrook Place in Leawood.

The company is based in Burlington, Mass. Its educational content and software focus on health care and other jobs that require licenses, including nursing, pharmacy technicians and medical assistants.

Mark Davis: 816-234-4372, @mdkcstar

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