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Instructure Acquires MasteryConnect for $42.5 Million to Expand K-12 Footprint

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Instructure , the publicly traded company best known for its learning management systems (LMS) Canvas and Bridge, has agreed to acquire a fellow Salt Lake City-based education technology company, MasteryConnect , for $42.5 The company claims users in more than 14,000 U.S. The company claims users in more than 14,000 U.S.

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MasteryConnect Cuts 30 Percent of Staff, Brings Co-Founder Mick Hewitt Back as CEO

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But when funding dries up and profits remain elusive, companies have to make tough cuts. Back in the driver’s seat is Mick Hewitt, who co-founded the company in 2009 and served as its first CEO. He adds: “As a venture-funded company, there’s been a decision to get to profitability in the next nine to 12 months.”

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