Press release

Cambium Learning Group Completes Its Acquisition of Assessment Division of the American Institutes for Research

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Cambium Learning Group, Inc. (“Cambium Learning”), a leading provider in education software and portfolio company of Veritas Capital (“Veritas”), today announced that it has completed its acquisition of AIR Assessment, the student assessment division of the American Institutes for Research (“AIR”), one of the world’s largest behavioral and social science research organizations.

Since 1999, AIR Assessment has become one of the fastest-growing brands in the assessment field. Leading the nation with its innovative design, AIR Assessment uses technology to measure student progress and provide educators and families with timely, relevant information about teaching and learning. Last school year, AIR Assessment delivered more than 60 million online tests in more than 25 states.

The new business unit, Cambium Assessment, Inc. (“Cambium Assessment”), combined with the existing Cambium Learning companies, brings together advanced K-12 assessment services with research-based, individualized instruction.

“Teachers continue to wrestle with challenges around student proficiency and equity and are hungry for effective solutions,” said John Campbell, Chief Executive Officer of Cambium Learning. “Cambium Assessment delivers the best online summative assessments in the industry and, working together, we’re now in a position to build efficient, end-to-end solutions that will help teachers deliver data-driven instruction and ensure all students reach proficiency.”

“As a proven leader providing digital curriculum to more than 10,000 districts across the country, Cambium Learning has distinguished itself as the go-to partner for millions of teachers,” said Steve Kromer, President of Cambium Assessment. “As part of Cambium Learning, we now have a unique opportunity, not just to serve more teachers and students, but to explore innovative ways to improve proficiency and learning at scale.”

Ramzi Musallam, Chief Executive Officer and Managing Partner of Veritas added, “Our aspirations for Cambium Learning Group couldn’t be higher. We look forward to supporting John and his exceptional team as they embark on their next chapter of growth and mission-impact.”

AIR will invest the proceeds from the sale to expand its research, evaluation and technical assistance work in a broad range of areas, including education, health and workforce development, in the United States and internationally.

About AIR

Established in 1946, with headquarters in Washington, D.C., the American Institutes for Research (AIR) is a nonpartisan, not-for-profit organization that conducts behavioral and social science research and delivers technical assistance both domestically and internationally in the areas of education, health and the workforce. For more information, visit www.air.org.

About Cambium Learning Group, Inc.

Cambium Learning® Group believes every student has great potential, teachers are mission-critical, and data, instruction and practice work together to drive performance. With a portfolio of award-winning brands, Cambium Learning Group’s digital and blended curriculum and professional learning solutions drive proficiency, equity, and other learning outcomes in classrooms everywhere. Brands include Learning A-Z® (online differentiated instruction for elementary school reading, writing and science), ExploreLearning® (online interactive math and science simulations, a math fact fluency solution, and a K-2 science solution), Voyager Sopris Learning® (blended solutions that accelerate struggling learners to achieve in literacy and math and professional learning for teachers), and VKidz Learning (online comprehensive homeschool education and programs for literacy and science). Come learn with us at www.cambiumlearning.com.

About Veritas Capital

Veritas is a leading private equity firm that invests in companies that provide critical products and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide, including those operating in the aerospace & defense, healthcare, software, national security, communications, energy, government services and education industries. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. For more information on Veritas and its current and past investments, visit www.veritascapital.com.