Thoma Bravo, Instructure Push Forward with Buyout; CEO to Step Down

  • By Dian Schaffhauser
  • 02/18/20

Instructure's CEO will be stepping down in a couple of weeks after the latest purchase agreement with Thoma Bravo is complete. A special shareholders meeting scheduled for Feb. 25, 2020 has been canceled. And the board of directors for the learning management system company has come up with a plan to get through the acquisition without shareholder approval.

Under the latest arrangement, Thoma Bravo will tender an offer by Feb. 24 to acquire all outstanding shares of Instructure common stock directly from shareholders. Late last week, the venture capital company raised its previous offer of $47.60 per share to $49 per share.

"The board unanimously supports this structure as the clearest path to maximize value for all Instructure stockholders," Josh Coates, Instructure executive chairman of the board of directors, said in a statement. "We encourage all stockholders to tender their shares in support of the transaction."

Dan Goldsmith, current Instructure CEO, will be leaving the company March 6. According to a press release, the company will form an office of the CEO with a group of senior executives to lead the business until a successor is named. The board said that it would hire an executive search firm to assist in finding a replacement. Goldsmith joined Instructure in June 2018, as president; he became CEO in January 2019.

About the Author

Dian Schaffhauser is a former senior contributing editor for 1105 Media's education publications THE Journal, Campus Technology and Spaces4Learning.

Featured

  • A Comprehensive Guide to the Best Value Evaluation Systems

    Choosing the most cost-effective evaluation system requires balancing price, usability and insight quality. In a landscape full of digital tools and data demands, it is important to prioritize platforms that deliver clear results without complicating operations.

  • handshake between two individuals with AI icons (brain, chip, network, robot) in the background

    Microsoft, Amazon Announce New Commitments to Support Presidential AI Challenge

    At the Sept. 4 meeting of the White House Task Force on Artificial Intelligence Education, Microsoft and Amazon unveiled new commitments to expanding AI education and skills training.

  • digital book with circuit patterns

    Turnitin and ACUE Partner on AI Training for Educators

    Turnitin is teaming up with the Association of College and University Educators to create a series of courses on AI and academic integrity designed to help faculty navigate the responsible use of AI in learning and assessment.

  • server racks, a human head with a microchip, data pipes, cloud storage, and analytical symbols

    OpenAI, Oracle Expand AI Infrastructure Partnership

    OpenAI and Oracle have announced they will develop an additional 4.5 gigawatts of data center capacity, expanding their artificial intelligence infrastructure partnership as part of the Stargate Project, a joint venture among OpenAI, Oracle, and Japan's SoftBank Group that aims to deploy 10 gigawatts of computing capacity over four years.