According to the terms of the settlement, Kahoot! Group will buy 100% of Clever Inc.’s stocks for between $435 million and $500 million in cash and without any debt, with a performance-based component for the years 2021–2022. Roughly 82% of the payment will be paid in cash and 18% in Kahoot shares.
With a solitary sign learning system that unites institutions, educators, students, and app developers, Clever, a company that was founded in 2012, makes it simple for all users to obtain relevant learning materials. With the help of a marketplace, website, API-based user administration, and single sign-on functionality, it smoothly combines the workflow of students and teachers. Without exiting the interface, both educators and students can switch between classrooms and tasks using Clever.
With a presence in more than 89,000 schools or 65% of the 13,000 K–12 school districts in the US, Clever promises to have serviced 50% of all US learners in 2020. It claims that over 20 million students use its platform each month, producing 5.6 billion training workshops in a single year. Clever has worked with 600 programmers, including a large number of the top international education companies like Khan Academy, McGraw Hill, and Zoom.
The collaboration of two industry titans in education technology will enhance learning options and alternatives for US schools while hastening the global rollout of Clever’s offerings and Kahoot’s larger portfolio of EdTech products and services.
Following the transaction’s completion, the Kahoot! Group will hold 100% of Clever. As an independent business within Kahoot! Group, Clever will continue to run as an open platform and use the Clever name.
Kahoot! was established in 2013 to make learning fun. By making it simple for any person or organization to create, share, and play learning games that promote captivating engagement, it wants to enable everyone, including kids, students, and workers, to realize their complete learning potential. With 1.6 billion users from more than 200 countries using its platform to play roughly 280 million games in the past year alone, the Oslo-based company has a significant global footprint.