Jones Day is advising Educational Testing Service in its $127.5 million acquisition of Questar Assessment Inc., a leading K–12 assessment solutions provider focused on building a bridge between learning and accountability. The following press release provides further information.
Subject to regulatory approval and customary closing conditions, Questar will become a separate, for-profit subsidiary of ETS.
The acquisition allows both organizations to gain capacity, improve capability, and acquire additional operating resources to better serve clients in the dynamic K–12 marketplace. Current clients of both companies will continue to be seamlessly served.
Questar supplies states with summative assessments for grades 3-8, end of course tests and alternative assessments for students with disabilities. Questar is widely known and respected for its fresh approach to assessment, technical innovations that set the standard for scalability and reliable online testing performance, and for reimagining how assessments can empower educators and better serve students. Nextera®, Questar’s end-to-end assessment platform, integrates content management, student-test interface, administration and image-based hand-scoring capabilities.
ETS designs and administers more than 50 million tests a year in 180 countries. Its assessments include the GRE®, TOEFL®, TOEIC®, the U.S. Department of Education’s NAEP, and the College Board’s SAT® and Advanced Placement® tests. In the K–12 marketplace, ETS administers state contracts, including the State of Texas Assessments of Academic Readiness (STAAR), and the California Assessment of Student Performance and Progress (CAASPP), as well as other state testing programs.
Barclays is acting as exclusive financial advisor and Jones Day as legal advisor to ETS. BMO Capital Markets is acting as exclusive financial advisor and Vedder Price as legal advisor to Questar.
Jones Day is advising Educational Testing Service (ETS) on the deal with a team led by M&A partners Daniel Mitz and Peter Ekberg (picture).
Law Firms: Jones Day;
Clients: Educational Testing Service;