PowerSchool Group Acquired by Vista Equity Partners and Appoints CEO
PowerSchool Group’s carve-out from Pearson signals accelerated growth for the leader in K-12 student information systems; Hardeep Gulati named Chief Executive Officer
Rancho Cordova, Calif. – August 4, 2015 – PowerSchool Group LLC (“PowerSchool”), the leading provider of student information systems and services in K-12 education, today announced that it has been acquired by Vista Equity Partners (“Vista”) from Pearson plc. The transaction was originally announced June 17th. The carve-out marks a new phase of growth for PowerSchool as the company addresses increasing demand for integrated education technology products.
Following the closing of the acquisition, PowerSchool appointed Hardeep Gulati as Chief Executive Officer. Gulati has 16 years of experience as an executive for software and technology companies, including eight years at Oracle. He also served as CEO of SumTotal Systems, a market leader in enterprise talent and learning management solutions that served more than half of the Fortune 500 companies.
“We are excited for the opportunity to partner with Vista and build upon our success as the market leader in K-12 student information systems,” said Hardeep Gulati, CEO of PowerSchool. “As a standalone company, we are well positioned to deliver comprehensive solutions and individualized education with PowerSchool as the central hub that connects schools, teachers, students, parents and value-added solution and content providers. I look forward to leveraging my corporate education and enterprise systems expertise to lead PowerSchool through its next chapter of innovation, growth and leadership.”
Bryan MacDonald, formerly the Managing Director of Pearson’s School Systems division, will serve as Chief Technology Officer and Chief Strategist of PowerSchool. Mark Oldemeyer has been appointed as Chief Financial Officer.
PowerSchool delivers a network of integrated systems that helps K-12 school districts manage all mission-critical administrative processes and instructional data using one cohesive solution. PowerSchool’s products and services are used by more than 40 million users around the globe. PowerSchool Mobile, a market leading education app with 7 million users, provides parents and students access to real-time information on grades, attendance, assignments, scores, and comments.
“PowerSchool is helping to shape the future of K-12, integrating diverse education technologies that empower millions of students, parents, administrators and teachers all over the world,” said Robert F. Smith, CEO and Chairman of Vista Equity Partners. “Hardeep has proven experience leading companies through periods of growth, and we are confident that he and his talented leadership team will successfully execute the next phase of PowerSchool’s growth plan and have an even greater impact on education.”
About Vista Equity Partners
Vista Equity Partners, a U.S.-based private equity firm with offices in Austin, Chicago and San Francisco, with over $14 billion in cumulative capital commitments, currently invests in dynamic, successful software, data and technology-based organizations led by worldclass management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For more information, please visit www.vistaequitypartners.com.
About PowerSchool Group LLC
PowerSchool is the most widely-used student information system, serving more than 13 million students in the US, Canada and in more than 70 countries. PowerSchool plays a 10911 White Rock Road, Suite 200 • Rancho Cordova, CA 95670 • PowerSchool.com 3 central role in K12 education, serving as the hub of customers’ education ecosystems with robust features and APIs that allow education stakeholders to manage school processes and student data and connect diverse education technologies utilized in classrooms, schools and districts. Learn more about PowerSchool at https://www.powerschool.com.