SALT LAKE CITY, April 2, 2019 /PRNewswire/ -- Instructure, Inc. (NYSE: INST) today announced it has signed an agreement to acquire MasteryConnect, a
longtime partner and innovator in the design and delivery of formative and interim assessment that supports personalized and
mastery-based learning. Through this acquisition, Instructure will accelerate the shift occurring at the state level as they
replace high-stakes, end-of-year testing with innovative assessment models. This new approach uses formative data to provide
actionable insights for teachers and students.
"Today's educators are trying to move away from archaic, end-of-year testing and looking for more intuitive evaluation
models," said Dan Goldsmith, CEO of Instructure. "Together, Canvas and MasteryConnect will place
valuable data in the hands of our teachers, not once, but throughout the year so they can focus on activities that increase
student learning."
MasteryConnect is designed to quickly identify student levels of understanding, target areas for personalized growth, and give
teachers the data they need to direct each student's learning. MasteryConnect has worked with Dr. Jonathan Templin, Professor and E .F. Lindquist Chair in the Educational Measurement and Statistics program at
the University of Iowa, to create statistical models that provide reliable student data around
mastery of standards through shorter formative evaluations. These models pin-point what students know, letting schools redefine
assessment, integrating it more closely with curriculum and instruction.
Teachers in more than 14,000 U.S. school districts use MasteryConnect including Charlotte-Mecklenburg Schools (NC), Oklahoma City Public Schools (OK), and
Alpine School District (UT), with many districts nationwide already using both MasteryConnect and Canvas together.
"At Hall County Schools, we consider Canvas and MasteryConnect valuable tools for teaching and learning since they provide
teachers the information they need to create a dynamic and engaging blended learning environment," said Gregory Odell, e-Learning Specialist at Hall County Schools in Georgia. "Our students benefit from both products, and we will benefit overall from these companies coming
together to help K-12 students learn and grow."
MasteryConnect was founded in 2009 and is headquartered in Salt Lake City. Its solution will
continue to be sold as a standalone offering. In addition, for customers interested in combining assessment with learning,
MasteryConnect will be further integrated with Canvas LMS, helping districts scale personalized learning, increase student
achievement, and support professional learning. MasteryConnect and Instructure have been partners in education since 2016.
"This acquisition brings together many years of partnership and synergies with Instructure," said Mick
Hewitt, Co-founder and CEO of MasteryConnect, who will join Instructure as General Manager of MasteryConnect. "It
highlights the alignment of our shared mission to transform learning while expanding our reach both domestically and
globally."
The acquisition is expected to close within the next seven days and is subject to satisfaction of customary closing
conditions, including approval by MasteryConnect stockholders.
ABOUT INSTRUCTURE
Instructure, Inc. is the leading software-as-a-service (SaaS) technology company that helps people grow from their first day of
school to their last day of work. Its software solutions include Canvas, the learning management platform that simplifies
teaching and elevates learning, and Bridge, the employee development and engagement solution for people-focused companies. To
date, Instructure has connected millions of educators and learners at more than 4,000 educational institutions and corporations
throughout the world. Learn more about Canvas for higher ed and K–12 and Bridge for companies at www.Instructure.com.
ABOUT MASTERYCONNECT
MasteryConnect is a K-12 assessment and curriculum platform supporting educators as they drive student growth through formative
and benchmark assessment, curriculum planning, and collaboration. We enable teachers to identify levels of understanding in the
moment through a variety of assessments, so they can immediately target interventions and evaluate their own practice. For more
information, visit masteryconnect.com.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking" statements which are subject to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, including statements regarding Instructure's potential acquisition of MasteryConnect
and Instructure's growth and future application releases. These statements are not guarantees of future performance, but are
based on management's expectations as of the date of this press release and are subject to uncertainties, risks, and changes in
circumstances that are difficult to predict. Forward-looking statements involve known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements to be materially different from any future results,
performance or achievements. Important factors that could cause actual results to differ materially from those expressed or
implied by these forward-looking statements include risks associated with new application introductions and Instructure's ability
to develop and deliver innovative applications and features, Instructure's ability to successfully implement and achieve cost
synergies and otherwise integrate MasteryConnect following closing, and other risks and uncertainties detailed in Instructure's
filings with the Securities and Exchange Commission, including, without limitation, its Form 10-K and other reports on Forms 8-K
and 10-Q, all of which can be obtained on the SEC website at www.sec.gov. Instructure assumes no obligation to update or revise publicly any forward-looking statements
contained in this release, except as required by law.
CONTACTS:
Keaton Godfrey
Director, Investor Relations
Instructure
(866) 574-3127
kgodfrey@instructure.com
Becky Frost
Senior Director, Corporate Communications
Instructure
801-869-5017
becky@instructure.com
Jenn Mitchell
Director of Marketing
MasteryConnect
jmitchell@masteryconnect.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/instructure-to-acquire-partner-masteryconnect-to-launch-new-era-of-innovative-assessment-300822663.html
SOURCE Instructure