Cambium Learning, Inc. (Massachusetts) and Voyager Learning (Texas) Merger|
Cambium Learning Group, Inc. (Nasdaq: ABCD), completed the merger of Cambium Learning, Inc., a company serving the needs of at-risk and special student populations, and Voyager Learning Company (Other OTC: VLCY), a provider of educational solutions. The business combination creates a leading provider of intervention curricula, educational technologies and services for the Pre-K through 12th grade market in the United States.
The merger was effected through a newly formed company, Cambium Learning Group, Inc., which acquired both businesses and issued shares in the combined company to the stockholders of Voyager Learning Company and Cambium Learning, Inc. Effective December 9, 2009, Cambium Learning Group, Inc. became a publicly traded company listed on the NASDAQ Global Market under the symbol ABCD.
Cambium Learning Group, Inc., will be headquartered at Briargrove Place in Dallas, Texas. The new company currently has 178 employees and will add 50, for a total of 228 in the corporate headquarters. The merger also called for the reconciliation of warehouses in Colorado and Texas. The decision was made to consolidate into the warehouses in Colorado. Incentive offerings were obtained for both the headquarters and warehouse consolidation.
Cambium Learning Group, Inc. operates three business units: Voyager, a comprehensive intervention business; Sopris, a supplemental solutions business; and Cambium Learning Technologies, which includes ExploreLearning, IntelliTools, Kurzweil and Learning A-Z. Through its core divisions, Cambium Learning Group, Inc. will provide research-based education solutions for students in Pre-K through 12th grade, including intervention curricula, educational technologies and services exclusively focused on serving the needs of the nation's most challenged learners and those realizing their full potential.
Burns Development Group and Grubb & Ellis represented Cambium Learning with the site search and real estate transaction for the corporate headquarters in Dallas and the warehouses in Colorado.