Cloud-based K-12 education software company PowerSchool Holdings Inc. acquired Neverskip, an education technology platform with 1.2 million students in India.
Neverskip’s enterprise resource planning software platform is used by more than 900 schools in India, where Folsom-based PowerSchool (NYSE: PWSC) has about 70 client schools, so the acquisition could ramp up its efforts on the subcontinent.
“PowerSchool has extensive experience helping many international and private schools in India elevate teacher effectiveness and student outcomes,” said PowerSchool CEO Hardeep Gulati, in a news release. “Our acquisition of Neverskip is an instrumental step in our journey to provide personalized education to all."
Terms of the acquisition were not released.
Neverskip, based in Chennai, India, has about 150 employees. Chennai is the sixth-largest urban area in India.
Neverskip offers a digital platform to perform diverse school functions such as admissions and fee management and to manage online exams, report cards and administrative tasks.
PowerSchool launched in 1997, offering online tracking of grades and attendance. Over the years it's added more functionality and modules to support school administrators, teachers, parents and students. It now offers 20 different education and administration products, and supports 50 million students in more than 90 countries.
In July, PowerSchool announced it had a letter of intent to buy SchoolMessenger, a provider of communications tools for the K-12 market for $300 million in cash from its parent company West Technology Group LLC. The SchoolMessenger acquisition is expected to close this quarter.
The Neverskip deal is PowerSchool’s second acquisition this year, and its 20th in eight years. Neverskip is PowerSchool’s first acquisition outside North America.
PowerSchool became a publicly traded company through an initial public offering in 2021 that netted the company $766 million.
