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OTTP and Providence Equity Partners Sell Ascend Learning to Blackstone and CPPIB
- Client News
- April 14, 2017
Paul, Weiss is representing the Ontario Teachers’ Pension Plan (OTTP) in its sale, alongside Providence Equity Partners, of education software company Ascend Learning, LLC. Under the agreement, Ascend will be acquired by funds managed by Blackstone and Canada Pension Plan Investment Board (CPPIB). Financial terms of the transaction, which is expected to close following customary closing conditions and regulatory approvals, were not disclosed.
The Ontario Teachers’ Pension Plan is Canada’s largest single-profession pension plan. Providence Equity Partners is a Rhode Island-based asset management firm. Ascend Learning is a Massachusetts-based provider of educational content, software and analytics solutions.
The Paul, Weiss team included corporate partner Matthew Abbott; and tax partner Scott Sontag.