IBL News | New York
Instructure Holdings, Inc., which manages the Canvas LMS, the leading learning platform, announced last week that it completed its sale to two investment firms, KKR and Dragoneer, for $4.8 billion (or $23.60 per share).
As part of the transaction, Instructure’s common stock was removed from trading on the NYSE (New York Stock Exchange).
“Having KKR’s support will help us double down on core markets, scale our global reach at a faster pace and unlock new opportunities as we continue to innovate and enhance Canvas and the Instructure Learning Ecosystem,” said Steve Daly, CEO of Instructure.
According to its data, the company expects to deliver $1B in revenue by 2028 with a platform that hosts 200 million learners from 100 countries and is supported by 1,000 partners. Currently, its annual revenue is below $500 million.
Instructure has been publicly traded since 2021 after Thoma Bravo, its existing majority owner, briefly took it private for a year in 2020.
