26 t ransact ions Apollo group AcQuIrEs

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cArNEgIE lEArNINg carnegie learning Inc., a Downtown-based math curricula publisher founded at carnegie mellon university, has been acquired in a $96.5 million by Apollo group, the phoenix, Ariz.,- based private education company whose subsidiaries include the university of phoenix. The deal, which should be complete by the start of Apollo's

2012 fiscal year in October, includes acquisition of related software through a separate transaction.

The acquisition was announced by Downtown-based Draper

Triangle Ventures, one of Carnegie Learning's first investors. Once the terms of the deal are finalized, Carnegie Learning

will continue to develop learning tools for K-12 students from Pittsburgh while utilizing Apollo Group's resources to improve and expand the brand.

CEO Dennis Ciccone said it was an "exciting time" in the company's history.

"Our perseverance and belief in the promise of Carnegie &# "$ $$"$

Learning has enabled us to re-invent the way we teach math and to build a transformative technology that has been recognized as such in the marketplace," he said. fi

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 OCTOBER 2011 www.finance-monthly.com