Discovery Communications announces acquisition of Espresso Education, the leading provider of primary school digital education content in the U.K.
(7th November 2013)
--Espresso Purchase Represents Further Expansion of the Company’s Discovery Education Products and Services Beyond the U.S.--
Discovery Communications announced today it has acquired Espresso Group Limited, the leading provider of primary school digital education content in the U.K. Discovery Education, the company’s education division and the global leader in providing curriculum-based digital content to classrooms, will oversee the business. Terms were not disclosed.
The purchase of Espresso Education represents Discovery Communications first international education-focused acquisition and highlights the company’s commitment to providing educators worldwide with quality digital resources, professional development and networking tools to help them accelerate student achievement.
“For more than 10 years, Discovery Education has focused on transforming teaching and learning with the highest quality, standards-based digital content, unparalleled teacher training and the largest professional networking and learning community,” said Bill Goodwyn, CEO of Discovery Education. “Espresso Education’s business model and high standards for content are well matched with Discovery Education’s mission, making this the perfect acquisition as we scale our efforts to positively impact student achievement around the world.”
In the 16 years since its founding, and as digital education becomes the standard in classrooms around the world, Espresso Education has become a leader in e-learning, transforming the way students learn through a blend of visual media and interactive resources throughout the U.K. market. Espresso Education has grown to become the U.K. leader in supplemental digital education services and is available in almost 11,500 schools, with brands including Espresso Primary, Clipbank and Channel 4 Learning. The company specializes in taking educational concepts and applying a “real world” context to support understanding through a combination of video and multimedia resources. It serves nearly 50 percent of schools in the U.K. with its Espresso Primary services. Espresso Education’s growth has been supported by its major shareholders, including the growth capital investor Beringea, ITN and Channel 4.
“The Espresso management team has built a strong education product in the U.K., and this acquisition brings together the most trusted brands in the U.S. and the U.K. in digital education, allowing us to offer schools, teachers and students the most powerful, compelling services to help accelerate student learning,” added James Rosenstock, who was recently appointed to President, Discovery Education International based in London, where he will oversee Discovery Education’s international growth strategy.
Following the acquisition, Espresso Education will continue its mission to transform education by encouraging the true integration of technology into classroom instruction through the use of powerful and compelling digital content.
“We are extremely pleased to be joining a blue chip industry leader like Discovery Education and we look forward to working with them to continue to transform classrooms across the U.K.,” said Lewis Bronze, Founder, Espresso Education. “I am confident that with the combination of Discovery Education’s unparalleled content and resources, and Espresso’s strong footprint in U.K. primary schools, we will continue to offer imaginative and curriculum-relevant services that will make a positive impact on pupil understanding and achievement.”
For nearly 25 years, Discovery Communications has been steadfastly committed to rich, education-focused programming with producers and institutions within the U.K. such as the BBC, the British Film Institute and the Imperial War Museum. Discovery also is a proud steward of U.K. founded and based businesses, including its television business, which consists of 11 channel brands including Discovery Channel, Discovery Science and Discovery History and the factual entertainment television production hothouse, betty.
HRO Grant Dawe LLP served as legal advisors to Discovery Communications on the acquisition. Quayle Munro served as investment banking advisors, and Bird and Bird served as legal advisors to Espresso Education.
About Discovery Education
Discovery Education is the global leader in standards-based digital content for K-12, transforming teaching and learning with award-winning digital textbooks, multimedia content that supports the implementation of Common Core, professional development, assessment tools, and the largest professional learning community of its kind. Available in over half of all U.S. schools, community colleges and in 50 countries around the world, Discovery Education partners with districts, states and like-minded organizations to captivate students, empower teachers, and transform classrooms with customized solutions that accelerate academic achievement. Discovery Education is powered by Discovery Communications (NASDAQ: DISCA, DISCB, DISCK), the number one nonfiction media company in the world, Explore the future of education atwww.discoveryeducation.com.
About Espresso Education
Espresso Education is the UK market leader in the provision of video-based digital curriculum services to primary and secondary schools, featuring Espresso Primary, Clipbank, and Channel 4 Learning. Its international division Espresso Rights licenses and distributes content into more than 40 countries worldwide.
Espresso’s mission is to provide classrooms with the highest quality digital educational resources and tools, thereby adding meaning and relevance to the curriculum delivered in schools. Our vision is to raise standards in the classroom with high-quality resources and tools that are fun-to-use and engaging yet firmly grounded in the curriculum and ICT skill development. Espresso aims to become the trusted provider of educational ICT resources.
About Discovery Communications
Discovery Communications (Nasdaq: DISCA, DISCB, DISCK) is the world's #1 nonfiction media company reaching more than two billion cumulative subscribers in 224 countries and territories. Discovery is dedicated to satisfying curiosity through 195 worldwide television networks, led by Discovery Channel, TLC, Animal Planet, Science and Investigation Discovery, as well as U.S. joint venture networks OWN: Oprah Winfrey Network, The Hub and 3net, the first 24-hour 3D network. Across the Nordic region, Discovery owns and operates SBS Discovery Media, a top-three portfolio of 20 television brands that feature leading nonfiction content, as well as locally produced entertainment programs, sports and the best scripted series and movies from major studios. Discovery also is a leading provider of educational products and services to schools and owns and operates a diversified portfolio of digital media services, including Revision3. Discovery Networks International distributes 42 international brands, reaching 1.6 billion cumulative subscribers with programming available in 45 languages. For more information please visit www.discoverycommunications.com.