Announcement
Anthology has embarked on a strategic transformation to position our edtech solutions for long-term growth. Backed by leading investors, Anthology will align its focus on core Teaching & Learning Business (comprised of Blackboard, Ally, Illuminate, and Institutional Effectiveness) and strengthen the balance sheet by recapitalizing the business on a stand-alone, debt-free basis.
We have also entered into binding agreements to implement strategic divestitures of our Enterprise Operations, Lifecycle Engagement, and Student Success businesses to ensure their capabilities are realigned for sustainable growth, allowing them to thrive in the long-term.
To facilitate the reorganization and the sale transactions, Anthology has filed voluntary protection under Chapter 11 of the U.S. Bankruptcy Code. Anthology will operate as usual throughout this process.
Anthology has entered chapter 11 with Ellucian Company LLC as the "stalking horse" bidder for the Enterprise Operations business, including Anthology Student, Finance & HCM, Student Verification, Enterprise Ops Legacy and Encoura, LLC will serve as the "stalking horse" bidder for the Lifecycle Engagement, including Anthology Encompass, Reach, Engage, Advance, and the Student Success business. The stalking horse bidders may not be the final owners of these businesses, as the agreements are subject to higher or better offers in a court-supervised auction and sale process.
