National online education company K12 Inc. plans to acquire Galvanize Inc., a tech-focused education and coworking-space company that operates a five-story campus in Pioneer Square, as part of an all-cash deal valued at $165 million.
Galvanize, which is based in Denver and operates eight campuses in the U.S., including the Seattle location, offers online tech-bootcamp coursework focused on technology skills as well as coworking spaces for individuals, startups and established companies that are supported by workshops and access to experts. Its acquisition by K12 has been approved by the boards of directors of both companies and is slated to close by the end of January.
“Galvanize graduates have gone on to bring their talents to more than 2,250 companies, including Amazon, Facebook, Google and Apple,” the announcement detailing the transaction states. “Similarly, Galvanize has partnered with Fortune 500 companies like IBM, McKesson and Cognizant to support their digital transformation by upskilling their current workforce. They are also a proud supporter of the U.S. military, helping train soldiers in software engineering and serving as a preferred provider of the U.S. Department of Veterans Affairs’ VET TEC program.”
Herndon, Virginia-based K12 offers online and blended education programs to charter, public and private schools, families and individuals as well as post-secondary institutions. Nationally , it serves some 70 public and private schools and more than 2,000 school districts ― including offering online education programing through two school districts in northern Washington.
“Like Galvanize, K12 has been committed to removing barriers to high-quality education since its inception 20 years ago,” the company says. “The company has recently taken a leadership role in career-readiness education, serving more than 13,000 students nationwide through K12-powered [online, tuition-free] Destinations Career Academies, which combine traditional high school academics with career technical education. With this acquisition, K12 builds on its signature portfolio of curriculum, programs, platforms and technology.”